if sample accepted by party.
if sample rejected by party.
for free sample invoice required and itc is available or not.
what will be the senirio under GST for the abaove
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Section 17(5)(h) of the IGST ACT Provides that No input tax credit is available if goods lost, stolen, destroyed , written off or disposed off by way of gift or free sample.
Input tax credit on inputs & services used in free sample should be reversed.
Input tax credit on inputs & services used in free sample should be reversed.
ok thanku sir but please advise whether invoice required for free sample
There is an alternate view that the free samples restriction is only for the inputs and not for manufactured goods.
One more view is that in business nothing is free. It is a business promotion and being in the course of business ITC should be available.
This may require a further discussion.
good clarification and information
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