TAX LIABILITY ON BENEFITS OR PERQUISITES RECEIVED FROM SUPPLIER

[BARUN MUKHERJEE]

SIR,

IS THERE ANY LIABILITY TO PAY GST ON BENEFITS OR PERQUISITES RECEIVED IN RESPECT OF BUSINESS OR PROFESSION?

AI Summary

GST Applies to Business Benefits from Suppliers Under Rule 27, CGST Rules, 2017; Consider Income Tax Act Section 28(iv) A discussion on the applicability of GST on benefits or perquisites received from suppliers in the context of business or profession was initiated. One participant confirmed GST applies to such benefits, valued per Rule 27 of the CGST Rules, 2017. Another participant requested more specific details to provide a precise response. The discussion also touched on the relevance of the Income Tax Act, section 28(iv), and the necessity of examining whether such benefits are in consideration for any supply of goods or services. The original query lacked sufficient detail, hindering comprehensive responses.