Hi Team,
Can somebody educate me on 18% GST on recovery amount from employees. My notice period was for 2 months and i served it for 1 month. Now the components that i read online that comes under 18% GST amount does not come under part of my CTC or any goods and services provided by the company.
Kindly help me to know more about it. I am pissed with the replies that i am getting from the finance team of my ex company and my experience letter is stucked.
Thanks.
From India
Can somebody educate me on 18% GST on recovery amount from employees. My notice period was for 2 months and i served it for 1 month. Now the components that i read online that comes under 18% GST amount does not come under part of my CTC or any goods and services provided by the company.
Kindly help me to know more about it. I am pissed with the replies that i am getting from the finance team of my ex company and my experience letter is stucked.
Thanks.
From India
Notice pay recovery is a consideration paid by employee to employer for non-performance of a term of contract of employment.
Therefore this becomes a taxable service falling under the head “Agreeing to tolerate an act” SAC Code 999794- GST 18%. If in appointment letter, it is stated that Notice pay will be recovered with GST, then it will be recovered from employee, otherwise it will be deemed that, GST is inclusive as per Rule 35 of CGST Rules, 2017 and the GST component will be borne by company itself.
https://www.gstbazaar.com/sac-codes/code/999794
From India, Pune
3131Therefore this becomes a taxable service falling under the head “Agreeing to tolerate an act” SAC Code 999794- GST 18%. If in appointment letter, it is stated that Notice pay will be recovered with GST, then it will be recovered from employee, otherwise it will be deemed that, GST is inclusive as per Rule 35 of CGST Rules, 2017 and the GST component will be borne by company itself.
https://www.gstbazaar.com/sac-codes/code/999794
From India, Pune
In my case my appointment letter did not mentioned about the GST, but still in my case, my old company is charged me GST of 18%, and as i dont have time to get releived i paid the amount, like other many colleagues did, Now i got relieved and my Full final settlement will get settled this month end which is 30th JUL 2018 with salary. So if i have discuss and go legally to claim the excess amount looted from me, how should i approach ?
From India
From India
Hello Team,
Please somebody guide me about on recovery amount from employees.My notice period was for 2 months and i served it for 1 month.but now my HR make my FNF cheque & in that amount they charge 18% GST in that amount,So i just want to know that 18 % is applicable on FNF & when that was started.So please guide me about these & reply me.
Regards
Meghana.P
From India, Mumbai
Please somebody guide me about on recovery amount from employees.My notice period was for 2 months and i served it for 1 month.but now my HR make my FNF cheque & in that amount they charge 18% GST in that amount,So i just want to know that 18 % is applicable on FNF & when that was started.So please guide me about these & reply me.
Regards
Meghana.P
From India, Mumbai
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
GST ON RECOVERY OF UNSERVICED NOTICE PERIOD.docx
No GST on Notice Pay Nominal Canteen Fees (TOI - 25-Oct-2022)_1. jpg
Order No. 1-2018 Extension of date for submitting the statement in FORM GST TRAN-2.pdf