Скачать или смотреть Food & Beverages – ITC eligibility only if statutorily mandated

🍔☕ Confused about GST Input Tax Credit (ITC) on Food & Beverages? Here’s the shocking truth: ITC is blocked unless it is statutorily mandated (कानून से अनिवार्य). 🚫✅ Whether it’s office parties, staff meals, or canteen facilities, only legally required benefits get ITC credit. 💼

👉 In this video, we decode GST Section 17(5)(b), explain CBIC circulars, and share practical tax planning tips with real-world examples. 🚀 Don’t risk penalties – master the difference between perks vs statutory benefits!

🔥 Must-watch for GST practitioners, business owners, accountants, students, and employees.

🔑 #GST #ITC #FoodAndBeverages #TaxUpdate #Compliance #BusinessTips #Finance #Accounting #TaxPlanning #GSTIndia

Ravi, a taxpayer running a small business, was worried about compliance and tax planning. His CA explained that under GST, food and beverages are covered in Section 17(5) as blocked credit. For business expenses like canteen, employee benefits, or corporate tax planning, ITC is not allowed unless statutory mandate applies. His accountant showed him GST circulars and CBIC clarifications: only when a statutory mandate like Factories Act requires canteen facility, ITC becomes valid. For other blocked credit like office party, client hospitality, or payroll perks, ITC is disallowed. This clarity helped him file accurate GST return, reduce audit risks, and improve financial reporting. With proper tax saving and legal provision knowledge, he could maximize his finance benefits and avoid penalties.
Disclaimer: In all the videos on this channel, some photos and videos used are shown only as examples and for educational purposes only,we will not be responsible in any circumstances for any decision which you have taken after watching the content and this is general guidance only. Consult a CA or Specilised personal for advice. Tax laws subject to change. Refer official portal for latest rules." Thank you