Gift to employees

[Ashiesh Prremji]

Dear Experts,

Please Clarify whether as per Schedule I gift in kind amount of 50,000/- by an employer to his employee is for per employee or all employees per Financial Year ?

AI Summary

GST on Gifts: 50,000 Rupee Exemption Applies Per Employee, Not Collectively, as per Schedule I. A query was raised regarding the Goods and Services Tax (GST) implications of gifts in kind valued at 50,000 rupees given by an employer to employees. The question sought clarification on whether this amount applies per employee or collectively for all employees in a financial year. An expert clarified that the 50,000 rupee exemption applies per employee, as specified by the language in Schedule I, which states that gifts not exceeding this value per employee in a financial year are not considered a supply of goods or services. The inquirer acknowledged and thanked the expert for the clarification.