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of <h1>Certain Activities Deemed Supply Without Consideration Under Punjab GST Act 2017, Gifts to Employees Exempt Up to 50K Annually.</h1> Under the Punjab Goods and Services Tax Act, 2017, certain activities are deemed as supply even without consideration. These include the permanent transfer or disposal of business assets with availed input tax credit, supply between related or distinct persons in business, and specific principal-agent transactions. Additionally, the import of services by a taxable person from a related entity or foreign establishment in the course of business is considered supply. However, gifts from an employer to an employee up to fifty thousand rupees annually are exempt from being treated as supply.
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