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ITC taken in Diwali gifts items like dry food & gifts
please advise we are taken ITC on above subject.
Replies (2)
No itc on food item allowable
Yes you can claim ITC but have Reverse
as per Section 17(5) sub clause (h)
No ITC can be claim if
,Goods lost, stolen, destroyed, written off or disposed of by way of GIFT or free samples.”
Hence cant claim ITC
as per Section 17(5) sub clause (h)
No ITC can be claim if
,Goods lost, stolen, destroyed, written off or disposed of by way of GIFT or free samples.”
Hence cant claim ITC
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