auditor of m/s better employer Ltd has observed that as a part of its employment contract, company provides rent free accomodation to its employees. Along with accomodation, electricity upto 500 units & broadband usages upto 100GB per month is also provided to the employees without any charges.
whether above said observation has any impact in computation of GST liability of the company?
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impact on GST liability of the company
Replies (2)
As per sec 3 igst supply of service by employee to employer in couse of employment is not regarded as supply of goods or services. While supply of services by employer to employee are not covered.
While these are related party transastions covered in schedule I made without consideration and should be valued as per rule 28 and rule 30 and charge gst accordingly.
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