9911796707
TMI BlogITC on promotional expensesX X X X Extracts X X X X X X X X Extracts X X X X ..... ITC on promotional expenses X X X X Extracts X X X X X X X X Extracts X X X X ..... on Gold coins / Watches given to business associates as a promotional expense during Diwali? Can ITC be claimed of GST charged on Gold Coins / Watches? Reply By Shilpi Jain: The Reply: If not in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e nature of gifts I.e. if it can shown to be an obligation to give such items, ITC can be claimed. Nothing is free in business. Reply By KASTURI SETHI: The Reply: (i) Yes. GST is payable on such pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omotional expenses. (ii) Regarding availment of ITC on such promotional expenses, pl. go through the following decisions of AAR :- 2019 (29) G.S.T.L. 789 (A.A.R. - GST) = 2019 (10) TMI 568 - AUTHORI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TY FOR ADVANCE RULING, KARNATAKA IN RE : SURFA COATS (INDIA) PVT. LTD. 2019 (26) G.S.T.L. 374 (A.A.R. - GST) = 2019 (6) TMI 1305 - AUTHORITY FOR ADVANCE RULING, MAHARASHTRA 2019 (22) G.S.T.L. 551 (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .A.R. - GST) = 2019 (3) TMI 540 - AUTHORITY FOR ADVANCE RULING, MAHARASHTRA IN RE : BIOSTADT INDIA LIMITED Reply By Himansu Sekhar: The Reply: 1. First decide whether they are related persons or not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under sec. 15.
2. If yes, taxable even if no consideration is received and ITC allowed.
3. If not, if a free gift without any consideration, no GST and no ITC allowed X X X X Extracts X X X X X X X X Extracts X X X X ..... ge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
