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)
Quick Summary
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 Topics :
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
- Criteria to hire an article
Related Topics :
CAclubindia
