SUPPLY

Indirect Taxation

as per CGST sec 7(1)(c) in case of Gift Given by employer to employee upto 50000 is not taxable so does this limit apply on value of per gift given or on the aggregate value of all the gifts given. also if the value of gift exceeds 50000 the whole value will be taxable or only the excess ?

Neel Daptardar

CS Executive

★ 5

01-Oct-21 10:29

658

Answers (2)

Best Answer

The limit of 50000 is per employee in one financial year, and if the value of gifts exceeds 50,000 then entire value will be considered as supply.

vishwam mandepudi

Qualified CA

★ 2K+

01-Oct-21 10:53

vishwam mandepudi

The limit of 50000 is per employee in one financial year, and if the value of gifts exceeds 50,000 then entire value will be considered as supply.

thank you

Thread Starter

Neel Daptardar

CS Executive

★ 5

01-Oct-21 15:36

Your Reply

Helping students crack CA, CFA & ACCA since 2017. 14,000+ students have trusted us for the best CA,CFA, ACCA online classes. Learn from the best CA, CFA faculty, access top-quality content and clear your exams with confidence

SUPPLY

Your Reply

Company

Information

Offerings