Tax on gifts provided by employer to employee
This query is : Resolved
28 March 2018
As per schedule 1, Gst on gifts upto 50000 provided by employer to employee are exempt.
Suppose on 1-7-2017 employer gifted goods wroth 40000 to employee
And again on 1-9-2017 he gifted goods worth 20000
Total gifts for the year is 60000
What will be the amount chargeable to gst? 10000 or 60000?
And what will be the time of supply in this case?
Suppose on 1-7-2017 employer gifted goods wroth 40000 to employee
And again on 1-9-2017 he gifted goods worth 20000
Total gifts for the year is 60000
What will be the amount chargeable to gst? 10000 or 60000?
And what will be the time of supply in this case?
28 March 2018
10,000 is chargeable to GST and time of supply is time of gift.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- TDS Return Q1 FY 2026-27
- Eway bill generation from place other than registeted
- CREDIT NOTES WITHOUT GST
- DIN reactivation
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Condonation . E-Verification of last year return .
- UNWANTED CREDIT BALANCE OF GST AS PER BOOKS
- GST rate and HSN code for sale of racing horses
- Depreciation of fixed assets- coop housing society in mumbai
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
