The Finance Ministry on Monday said that gifts from an employer to her/ his employee worth up to Rs 50,000 during a year are exempt from the GST ambit. "It is being reported that gifts and perquisites supplied by companies to their employees will be taxed under GST. Gifts up to a value of Rs 50,000 per year by an employer to his employee are outside the ambit of GST, " the ministry said. “Gifts of value more than Rs 50,000 made without consideration are subject to GST when made in the course or furtherance of a business", it added.
By Lokesh RV | Jul 11, 2017 9:27 AM #GST #Tax #Gifts
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