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Gst on bond money, Goods and Services Tax - GST |
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Gst on bond money |
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Hi I m working in a firm and digned a bond for 3 years or 1lakh rs. Now Do i have to pay gst also on penalty of 1lakh and can i get it ireimbursed In this case who has to pay gst me or firm because I m not gegetti any sale or service Pls clarify Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
In My view yes, you will have to pay GST.
In our view, you need not to pay GST immediately as it is the responsibility of your employer to charge GST on the event when you do not comply with the terms and conditions of the bond i.e. if you resign before completion of 3 years in this particular firm. Further, its' depend on the HR Policies of your Firm that how they absolve this amount, if they are willing to pay from their own pocket. On legal aspects, yes, there are case laws in favour of employees that legal proceeding against the employee cannot be triggered due to lack of machinery provisions in the Contract Laws in India for not fulfilling the bond's terms & conditions but it is matter of litigation. Page: 1 Old Query - New Comments are closed. |
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