Gifts to Employees Over Certain Value Taxable Under GST; No ITC for Personal Consumption Items.

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....Under GST regulations, gifts provided to employees exceeding a specific value are subject to taxation. Additionally, input tax credit (ITC) cannot be claimed for items meant for personal consumption. This policy aims to ensure that personal benefits provided by employers, which could be considered as part of compensation, are appropriately taxed, while also preventing misuse of ITC for non-business-related expenses.....