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Ltc on calenders
can we take itc on purchase of calendar and diary for distribute to vendors and customers
Replies (3)
Quick Summary
No... ITC not available.
NOT ALLOWED...
ITC on goods disposed off by way of free samples, gifts etc; is specifically BLOCKED u/s 17(5) clause (h) of the CGST Act 2017.
ITC on goods disposed off by way of free samples, gifts etc; is specifically BLOCKED u/s 17(5) clause (h) of the CGST Act 2017.
I am of the opinion that items which were meant for supply for consideration but were given without any consideration fall under 17(5)... like items donated, or items given as gift to employees or consumed by the proprietor etc
But were the purpose of the goods was for distribution only, ITC should not be reversed
Brand development expenses are a primary business expenditure in present day scenario
But were the purpose of the goods was for distribution only, ITC should not be reversed
Brand development expenses are a primary business expenditure in present day scenario
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