CLAIM OF LTA

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..... CLAIM OF LTA
Query (Issue) Started By: - S.C. WADHWA Dated:- 26-7-2021 Last Reply Date:- 27-7-2021 Goods and Services Tax - GST
Got 5 Replies
GST
Dear Expert, There is some scheme to get benefit of LTA if we purchased goods after paying 12% GST. Whether we can also purchase goods on which GST payable @18% or more. Please give your valuable suggestions. REGARDS, WADHWA Reply By KAS .....

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..... TURI SETHI: The Reply: Will you please elaborate your query ? Reply By S.C. WADHWA: The Reply: Dear Expert, Some time I read some where that If I make purchases of goods taxable GST @12%, I will get LTA exemption for 1/3rd of purchase amount or LTA amount received which ever is less. Pl confirm whether the said scheme is available for FY 2020-21. REGARDS, WADHWA Reply By KASTURI SETHI: The .....

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..... Reply: Pl. go to this weblink Reply to both questions are available in detail. https://cleartax.in/s/claim-lta-exemption-cash-voucher-scheme-fy-2020-21 Reply By ABHISHEK TRIPATHI: The Reply: Dear Sh. SC Wadhwa Ji, Have advised a client (CG Employee) regarding the scheme. I remember that the scheme says anything above 12% GST is fine and paid via net banking/upi etc. (basically not in cash). I .....

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..... f you buy something paying 12% + GST, it is fine. But the dates are gone right, last date of availing the scheme was March 31, 2021. Reply By Ganeshan Kalyani: The Reply: I read the article on the link given by Sri Kasturi Sir. According to the write-up the scheme was available on the purchase made between 12th October 2020- 31st March 2021.
Discussion Forum - Knowledge Sharing .....

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