Menu
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
Recent Topics :
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
Related Topics :
CAclubindia
