In GST Input tax credit of free gifts and promotional items is a disputed issue.GST Advance ruling of Sanofi India is discussed in this video. Sanofi India AR will be landmark in ITC related issues in GST. This company is engaged in pharma business. Items are given free of cost for achieving targets. There is a point system for sales and then those points are redeemable in some items. Input tax credit of promotional items is restricted by section 17(5)(h). It is very important for pharma & FMCG sector. This advance ruling is one of the landmark. Although in this ruling ITC of free items is rejected. But the question is whether the items given for fulfilling a contractual agreement can be said to be given free of cost.
Watch this video for:
Input tax credit
GST AAR
Sanofi India AAR
ITC on free gift
ITC on free items
ITC of promotional items
GST ITC
Link of PDF of original order is at the following link.
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