hello
i deal in pharmaceutical business, i want to gift a mobile phone to my cosutomer can i claim itc gst paid on mobile
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Itc on mobile gift
Replies (7)
As per section 17(5) (h) of the CGST act 2017 and Circular 92 / 2019 dt 7/3/2019 Clause ( A) (ii) by CBIC you can not Claim Input TAX credit on Gifts to Customers .
Confirm with others also .
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Ok sir, but many of people claim input
I think you have reverse ITC with interest . please confirm with others also.
This is fall under block credit.
No Sir...
You cannot claim ITC on Mobile Phone as it is disposed off by way of "GIFT". As per the Provision of Section 17(5) clause (h) of the CGST Act 2017, ITC is BLOCKED on goods distributed as Free Samples, Gifts etc.
Hence you cannot claim ITC. If you have claimed ITC, then Reverse that portion of ITC with applicable Interest.
You cannot claim ITC on Mobile Phone as it is disposed off by way of "GIFT". As per the Provision of Section 17(5) clause (h) of the CGST Act 2017, ITC is BLOCKED on goods distributed as Free Samples, Gifts etc.
Hence you cannot claim ITC. If you have claimed ITC, then Reverse that portion of ITC with applicable Interest.
Ok sirr tnx a lot for your help
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