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.
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