Document background
The Commercial Invoice Gift is a specialized document used in the Indian business environment where formal documentation of gift transactions is required for tax and regulatory compliance. This document type becomes necessary when businesses need to transfer goods or services as gifts while maintaining proper accounting records and tax documentation. It is particularly relevant under Indian law where gifts above certain values must be properly documented and may have tax implications for both donor and recipient. The document includes detailed valuation of gifts, GST implications, and clear statement of gratuitous intent, making it essential for corporate gifting, business relationships, and promotional activities. The Commercial Invoice Gift helps businesses maintain transparency while complying with various Indian regulations including the GST Act, Income Tax Act, and state-specific gift taxation rules.
