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)
Menu
Some c 17(5) (h)
Replies (7)
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.
Yeah beacuse govt has not received any output tax on such supply then how govt. enable that person to take itc
Output tax will have to be paid regardless of receiving anything from employees.
But on such supply who will pay output tax ?
becuase its free
and employer also claiming the itc
becuase its free
and employer also claiming the itc
Employer will pay gst to government showing it as supply in his returns.
Claim of itc is debatable
Ok sir thankyou so much for giving your precious time.
Recent Threads
- Advance Tax not reflecting in Form26AS
- Capita gain tax
- Clubbing of income on ULIP
- ITR2 Processing Delay
- TDS demand payment notice
- Invoice NOT in 2B but showing in 2A, and supplier
- Is ITC available on VRF AC
- Capital gains on sale of furnished flat
- Heard & Seen Around – Your Daily Economi
- Gst interest and penalty doubts regarding missing
Related Threads
CAclubindia
