GST ITC on Gifts / Diwali Expenses

By | December 5, 2017
(Last Updated On: December 5, 2017)

Are expenses on “Gifts bought for clients/ customers on Diwali” – termed as “Diwali Expenses” eligible for ITC for business firm?

Answer: Pl see section 17(5)(h) of CGST Act

Section 17(5)(h) of CGST Act 2017…. , input tax credit shall not be available in respect of the following, namely:—

….

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

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