Now the companies that give gift to your employees become aware In addition to the addition of Limits of senior executives to the Implementation Contract, in addition to Gift items of more than Rs 50,000, employees can be appointed GST on this.Companies will be able to claim this intra – company transaction and input tax credit. Tax analysts say tax rates can be between 18 percent and 43 percent of the band based on the type of gift.
An official of the Finance Ministry said that the gift given to employees will be considered a supply and it will be GST. It will not be difficult for the government to keep an eye on the company’s gifting.
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