SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Employee recoveries for subsidised canteen meals provided under statutory obligations at factories, R&D facilities and corporate offices are treated as employer-employee contractual perquisites rather than supplies under section 7 of the CGST Act; GST is therefore not payable on those recoveries. Input tax credit on GST charged by the canteen provider is available where the facility is legally mandatory, because the proviso to section 17(5)(b) applies across that clause. Credit remains restricted to the employer-borne canteen cost, while the proportion attributable to employee meal recoveries is disallowed.
Employee recoveries for subsidised canteen meals provided under statutory obligations at factories, R&D facilities and corporate offices are treated as employer-employee contractual perquisites rather than supplies under section 7 of the CGST Act; GST is therefore not payable on those recoveries. Input tax credit on GST charged by the canteen provider is available where the facility is legally mandatory, because the proviso to section 17(5)(b) applies across that clause. Credit remains restricted to the employer-borne canteen cost, while the proportion attributable to employee meal recoveries is disallowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
