ye-public-hai-sab-jaanti-hai
  1. You Are At:
  2. English News
  3. Business
  4. Reports of GST on salaries false, Finance Ministry clarifies

Reports of GST on salaries false, Finance Ministry clarifies

There are no plans to impose Goods and Services Tax (GST) on salaries paid to CEOs or employees, the Central Board of Indirect Taxes & Customs (CBIC) clarified on Friday. The CBIC clarification comes after reports in certain sections of media that the government was mulling to bring salaries paid to CEOs and high-paid employees will be brought under GST. The CBIC has categorically denied such reports as "false."

India TV Business Desk Edited by: India TV Business Desk
New Delhi Updated on: November 15, 2019 17:37 IST
Ministry of Finance/File
Image Source : PTI

Ministry of Finance/File

There are no plans to impose Goods and Services Tax (GST) on salaries paid to CEOs or employees, the Central Board of Indirect Taxes & Customs (CBIC) clarified on Friday. The CBIC clarification comes after reports in certain sections of media that the government was mulling to bring salaries paid to CEOs and high-paid employees will be brought under GST. The CBIC has categorically denied such reports as "false."

In a statement, the CBIC today said: Salaries are not subject to Goods and Services Tax (GST) and no GST has been demanded on salaries paid to CEOs or employees. The media report in this regard alleging that tax authorities want to impose GST on salaries paid to employees is factually incorrect and misrepresents tax authorities.

More details to follow.

Latest Business News

Write a comment