Mam, a GST registered person distributes gifts worth Rs. 20,000/- to each of its employees during a financial year. Whether he can claim ITC on such gifts. Please also tell whether he has any output tax liability on such gifts distributed.
ASHU GUPTA Asked question December 19, 2020
No GST as not regarded as supply as per Schedule -I. ITC cannot be availed in view of Section 17(5) of the CGST Act,2017.
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Frah Saeed Changed status to publish December 22, 2020