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Employees benefit

Lakhbir sauja (43 Points)

02 June 2021

A Factory has given 250000 to one of employee for Haj tour ,whether it is a supply as per clause B Schedule I of Gst

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4 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 02 June 2021

No it is not supply as per GST acte

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 02 June 2021

I think gifts to employees exceeding 50k is subject to GST

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 02 June 2021

Gifts upto a value of Rs 50,000/- per year by an employer to his employee are outside the ambit of GST. However, gifts of value more than Rs 50,000/- made without consideration are subject to GST, when made in the course or furtherance of business. But in this case whether it is for furtherance of business??