Perquisites to employees as part of CTC, not subjected to GST, clarifies Finance Ministry

Finance Ministry clarifies on taxation of gifts and perquisites supplied by companies to their employees under GST; States that gifts of value more than Rs. 50,000/- made without consideration are subject to GST, when made in course or furtherance of business; As to what constitutes a “gift”, Finmin states, “In common parlance, gift is made without consideration, is voluntary in nature and is made occasionally. It cannot be demanded as a matter of right by the employee ...