ITC may be claimed on items provided in exchange for meeting sales goals: AAR
According to a decision made by the Karnataka branch of the Authority for Advance Ruling (AAR), companies can claim input tax credits (ITC) on products provided to dealers as rewards for exceeding sales goals.
According to the AAR, ITC may be claimed on taxes paid for the acquisition of certain products. It further stated that these incentives ought to be viewed as supplies rather than gifts.
Follow Us On Instagram