GST InpuT Tax Credi Archives - Tax Heal https://www.taxheal.com/tag/gst-input-tax-credi Complete Guide for Income Tax and GST in India Fri, 17 Mar 2017 11:12:56 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 GST InpuT Tax Credit not available on Goods given as Gifts /Free Samples https://www.taxheal.com/gst-input-tax-credit-not-available-goods-given-gifts-free-samples.html https://www.taxheal.com/gst-input-tax-credit-not-available-goods-given-gifts-free-samples.html#respond Fri, 17 Mar 2017 11:12:56 +0000 http://taxheal.com/?p=23186 Whether input tax credit available on taxable goods, which are given free as gift etc. for sales promotion? As per Section 17(4) [Apportionment of credit and blocked credits] of Revised Model GST Law – input tax credit shall not be available in respect of the following: ….. (g) goods lost, stolen, destroyed, written off or… Read More »

]]> Whether input tax credit available on taxable goods, which are given free as gift etc. for sales promotion?

As per Section 17(4) [Apportionment of credit and blocked credits] of Revised Model GST Law – input tax credit shall not be available in respect of the following:

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(g) goods lost, stolen, destroyed, written off or disposed of by way of gift or free samples;

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Thus Section 17(4) (g) states that input tax credit shall not be available in case of goods lost, stolen, destroyed, written off or disposed of, by way of gift or free samples.

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