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Whether we have to reverse GST input on sample given for Auction Sale of Tea. The broker draw a fixed quantity of tea per lot as samples for free distribution to buyers who qualify to receive free trade samples as per the directive of the respective Auction Centre.
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Quick Summary
Yes, if it's not treated as sale.
Yes it needs to be reversed since it is a blocked credit.
As per the Provision of Section 17(5) clause (h) of the CGST Act 2017, ITC on Goods lost, stolen, destroyed, written off or disposed of by way of gift or "FREE SAMPLES" is specifically BLOCKED.
As per the Provision of Section 17(5) clause (h) of the CGST Act 2017, ITC on Goods lost, stolen, destroyed, written off or disposed of by way of gift or "FREE SAMPLES" is specifically BLOCKED.
If sample is given as per provision of any other law whether then also we have to reverse it????
Sir what do you man by Provision of any other law ???
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