GST – Started By: – Madhavan iyengar – Dated:- 6-1-2019 Last Replied Date:- 7-1-2019 – Where free samples are given ( could be customers or outsiders) GST treatment Is following treatment appropriate a) since free samples are of finished product and presumable of fresh product GST has to be discharged on market value of the FOC product by supplier and shown in B2C in GSTR-1 ( even if given to a regd person) and requires no ITC reversal. b) sec 17(5) (h) – reversal of ITC would apply only in case of disposal of samples, since word disposal has been used ie where the sample is of inferior quality then ITC to be reversed – Reply By Alkesh Jani – The Reply = Sir, Please read section 17(5)(h) by omitting the words lost, stolen, destroyed, writt
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will be sizeable. So we need to fix it now. as already advised by learned readers that ITC to be reversed ??? – Reply By Mahadev R – The Reply = GST is a law wherein still there are lot of issues for which there is no clarity in law straight forward. Till that time we could consider options. When GST is paid on finished goods, generally it would be more than ITC amount. Irrespective of options followed, it can be argued that ITC has been reversed. My personal view. Experts are free to agree / disagree – Reply By Madhavan iyengar – The Reply = yes i fully appreciate your views and agree and we all need to deliberate then only finer points would come out. both stand out on different footing Reversal of ITC is separate and utilising ITC to di
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