Menu
Credit on Gst
Gst credit on festival celebration expenses, if we are distributing dry fruits to the employees.
Replies (2)
Purchase
1. Purchase of Taxable goods ( Gift item) from Registered Person
_ No ITC ( Sec.17(5) )
2. Purchase of Taxable goods (Gift item) from Unregistered Person
_ pay GST under RCM under Sec.9 (4)
_ No ITC
3Purchase of Exempt goods (Gift item) from Registered or Unregistered Person
_ No quedtion of ITC
Gift by Employer to Employees
_ Gift by employer to Employee upto Rs 50,000 shall not treated as Supply hence no GST is payable by employer.
( Refer Schedule I of CGST Act,2017)
1. Purchase of Taxable goods ( Gift item) from Registered Person
_ No ITC ( Sec.17(5) )
2. Purchase of Taxable goods (Gift item) from Unregistered Person
_ pay GST under RCM under Sec.9 (4)
_ No ITC
3Purchase of Exempt goods (Gift item) from Registered or Unregistered Person
_ No quedtion of ITC
Gift by Employer to Employees
_ Gift by employer to Employee upto Rs 50,000 shall not treated as Supply hence no GST is payable by employer.
( Refer Schedule I of CGST Act,2017)
DRY FRUIT PURCHASED FOR DISTRUBUTION TO OFFICER AND THE GST AMOUNT IS 30K.CAN WE CLAIM ITC?
Recent Topic
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
Related Topics
CAclubindia
