WebJan 22, 2024 · ITC on business promotion and Diwali Gift to Employees. Contents. Dear All. One of My company doing camera rental Business.They give mobile and gift to … WebApr 13, 2024 · The Directorate General of GST Intelligence has served show cause notices to insurance intermediaries, including HDFC Bank, Go Digit Insurance, and Policybazaar, among others, for issuing fake invoices to claim input tax credit without providing any service. The investigation, initiated in 2024, has revealed an evasion of INR2,250 crore …
Christmas Parties and Gifts to Staff: Tax Issues for Businesses
WebJul 6, 2024 · Such perks may include paid holidays, holiday homes, club memberships and chauffeur assistance. Companies often give gifts to employees – it can be a small one like a pen or an expensive one like an iPhone or gold coin of 20 grams. All such gifts come under GST. “This means companies will now have to keep an account of all gifts given to ... WebNov 30, 2024 · Employee is related person of employer-company. However there is exemption for gifts not exceeding Rs 50000 pa given by employer to employee. When … tesla 3 warranty 2018
Input credit on Gifts for Diwali - CAclubindia
WebMar 13, 2024 · So, it can be said that non-compliance of CSR would lead to violation of the statutory provisions which in-turn affects the business activities. So, it can be understood that ITC can be availed on expenditure made for CSR Activities as it is in the course or furtherance of business. As per CGST Amendment Act 2024,credit should not be denied … WebApr 14, 2024 · Aggrieved by the advance ruling of the AAR, this appeal has been filed by the Appellant on the grounds that the Section 16 (1) of the CGST Act allows them to claim … WebApr 11, 2024 · Brief: Article discusses Taxability under GST on various promotional instruments like gift vouchers, coupons, cards etc. as to what are the nature of the same and what will be the tax implications on the same. Voucher in terms of clause (118) of Section 2 of CGST Act 2024 has been defined as follows: “” voucher” means an … trinamic steprocker