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Advance ruling in re: Caltech Polymers Pvt Ltd - A different view


Recovery of food expenses

I beg to differ with the opinion of the learned author inasmuch as recovery of food from employees is viewed at par with the exemption for transactions in money.'Money’ has been defined in Section 2(75) of the CGST Act, 2017 to include instruments like cheques, drafts, pay orders, promissory notes, letters of credit, etc. There are lot many fringe benefits provided to employees like subsidised food, transport, mobile phones etc. When a recovery is made on account of the above above fully or partially, it is subject to levy of tax in GST as well as in erstwhile ST regime. It cannot be treated as transactions in money so as to claim any exemption. CBEC also clarified this matter earlier and in GST also

james pg 06/07/2018

 

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