Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Page of 4821
Press 'Enter' after typing page number.
1 to 20 of 96408 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
GST cannot be collected on a penalty imposed on an employee for...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationships.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
GST cannot be collected on a penalty imposed on an employee for stock shortage merely because an employment relationship exists. Paragraph 5(e) of Schedule II to the CGST Act applies to agreements connected with a supply of services. A stock-shortage penalty arising from the employer-employee relationship is not, without more, consideration for a supply of services. Accordingly, that provision does not authorise GST on such recovery. The de novo enquiry concerning the collection was sustained, while the intra-court appeal was dismissed.
GST cannot be collected on a penalty imposed on an employee for stock shortage merely because an employment relationship exists. Paragraph 5(e) of Schedule II to the CGST Act applies to agreements connected with a supply of services. A stock-shortage penalty arising from the employer-employee relationship is not, without more, consideration for a supply of services. Accordingly, that provision does not authorise GST on such recovery. The de novo enquiry concerning the collection was sustained, while the intra-court appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.