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Kind Gifts(Gold Coins) to Customers attract GST?, Goods and Services Tax - GST |
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Kind Gifts(Gold Coins) to Customers attract GST? |
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Q1.Kind Gifts(Gold Coins) to Customers attract GST? Q2- Product samples given to Customers attract GST? How to show gst on outward of gifts to customers ? Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
Sir, As per Sl. No. 18 of Schedule V of Notification No. 1/2017-Central Tax (Rate) dated 28.6.2017 the rate of CGST payable on coins is 1.5%. Hence if you give gold/silver coins as gift to customers it will be treated as supply and liable to tax. As far as samples are concerned unless specifically exempted by suitable Notification tax is payable on samples given to customers since it will also treated as supply. Gst paid on gifts shall be paid as if it is a supply of taxable goods.
On both the cases there will be no gst as there is no consideration. For the samples, FAQ has been released. Only credit if any taken to be reversedf. Page: 1 Old Query - New Comments are closed. |
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