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Perquisites received u/s 194 of income tax act

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Assistant
719 Points Posted on 06 October 2023
where dealer received gold as a perquisite for achieving target sales & tds is deducted us 194R. Does dealer is liable to pay gst on this as it is received in the course of business ?
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On 06 October 2023 at 22:15 Report
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CA
1248 Points Posted on 07 October 2023

No. It was received without consideration.

Since the supplier already reverses the GST ITC, there is no need to pay GST on the same item again.

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On 07 October 2023 at 20:29


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