Kind Gifts(Gold Coins) to Customers attract GST?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Kind Gifts(Gold Coins) to Customers attract GST?
Query (Issue) Started By: - RameshBabu Kari Dated:- 29-8-2017 Last Reply Date:- 29-8-2017 Goods and Services Tax - GST
Got 2 Replies
GST
Q .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 1.Kind Gifts(Gold Coins) to Customers attract GST? Q2- Product samples given to Customers attract GST? How to show gst on outward of gifts to customers ? Reply By Rajagopalan Ranganathan: The Reply .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... : Sir, As per Sl. No. 18 of Schedule V of Notification No. 1/2017-Central Tax (Rate) dated 28.6.2017 the rate of CGST payable on coins is 1.5%. Hence if you give gold/silver coins as gift to custome .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rs it will be treated as supply and liable to tax. As far as samples are concerned unless specifically exempted by suitable Notification tax is payable on samples given to customers since it will als .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... o treated as supply. Gst paid on gifts shall be paid as if it is a supply of taxable goods. Reply By Himansu Sekhar: The Reply: On both the cases there will be no gst as there is no consideration. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... For the samples, FAQ has been released. Only credit if any taken to be reversedf.
Discussion Forum - Knowledge Sharing .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X