if employer gives gift to its employee more than 50000 then we can claim itc
but why becuase there is no consideration gift is free to its employees (no cost charge)
Because it will be treated as supply even without consideration by virtue of Schedule-I
There is a possibility to dispute the credit eligibility even if tax is paid under Sch 1 clause 2.
Output tax will have to be paid regardless of receiving anything from employees.
Employer will pay gst to government showing it as supply in his returns.
Claim of itc is debatable
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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