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TMI BlogActivities or Transaction Excluded from Supply - Para 1 of Schedule III [Read with Section 7(2)]X X X X Extracts X X X X X X X X Extracts X X X X ..... defined in the GST Act in the common parlance, these term may be defined as under: - * (1) " Employer" a person who has engaged or hired the services of another. he is entitled to rights and bound to perform duties. * (2) " Employee" is a person who is hired for a wages, salary, fee, or payment to perform work for an employer. * As per Education Guide issued by CBIC 2012 ( Services Tax Regime ) * Only services that are provided by an employee to the employer in the course of employment outside the ambit of services. * Services provided on contract basis i.e. principal to principal basis are not services provided in the course of employment. * Amount paid by the employer to employee for prematu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut of GST. * Clarification in respect of levy of GST Perquisites provided by employer to the employees as per contractual agreement [Circular No. 172/04/2022-GST Dated 06/07/2022 ] * Any perquisites provided by the employer to its employees in terms of contractual agreement entered into between the employer and the employee are in lieu of the services provided by employee to the employer in relation to his employment. It follows therefrom that perquisites provided by the employer to the employee in terms of contractual agreement entered into between the employer and the employee, will not be subjected to GST when the same are provided in terms of the contract between the employer and employee. * Clarification in respect of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or transfer of securities/shares, which is neither in nature of goods nor services, the same cannot be treated as import of services by the domestic subsidiary company from the foreign holding company and hence, is not liable to GST under CGST Act. * Clarification on Whether the activity of holding shares by a holding company of the subsidiary company will be treated as a supply of service or not and whether the same will attract GST or not. [ Circular No. 196/08/2023-GST dated 17th July, 2023 ] Analysis:- * Securities does not considered as a goods or service under the definition of Goods (clause 52 ) or Services (Clause 102) of Section 2 of CGST, Act 2017 * Further, securities include 'shares' as p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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