https://www.taxtmi.com/forum/issue?id=107819 Supplies made free of charge under a promotional scheme are subject to indirect taxes: excise duty is payable on FOC goods, input tax credit must be reversed or burned out under VAT laws, and entry tax is liable on a deemed value that aggregates cost, excise duty and ITC reversal adjustments to prevent tax avoidance by zero-valuing FOC items. en-us Wed, 07 Jan 2015 18:12:31 +0530 Thu, 23 Jan 2025 15:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=107819 Supplies made free of charge under a promotional scheme are subject to indirect taxes: excise duty is payable on FOC goods, input tax credit must be reversed or burned out under VAT laws, and entry tax is liable on a deemed value that aggregates cost, excise duty and ITC reversal adjustments to prevent tax avoidance by zero-valuing FOC items. Discussion-Forum VAT / Sales Tax Wed, 07 Jan 2015 18:12:31 +0530 https://www.taxtmi.com/forum/issue?id=107819