Gst on gfit

11 July 2017

In GST gift upto Rs 50,000/- are exempt from GST.

What if it exceded above limit and can we claim ITC on it..

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5 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 11 July 2017

Gift from employers to employees are exempt upto 50000
But the company. cannot avail ITC on it..

1 Like

Vijay Sesha Sai Madireddy (52 Points)
Replied 11 July 2017

Thank you..

What if it exceded Rs50,000. GST should be paid on total or total less 50,000.

For example employers gifts amounts to 75,000. Then GST should be paid on 25,000 or 75,000. and at what rate. and GST paid can be claimed as ITC..

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 11 July 2017

To be paid on total value...75000

Hemant kothari (4 Points)
Replied 11 July 2017

what if gift is from Individual (person) to individual (person), is their ant gst on it?

Hemant kothari (4 Points)
Replied 11 July 2017

what if gift is from Individual (person) to individual (person), is their ant gst on it?

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