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CLAIM OF LTA, Goods and Services Tax - GST

Issue Id: - 117380
Dated: 26-7-2021
By:- S.C. WADHWA
CLAIM OF LTA

  • Contents

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

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Posts / Replies

Showing Replies 1 to 5 of 5 Records

1 Dated: 26-7-2021
By:- KASTURI SETHI

Will you please elaborate your query ?


2 Dated: 26-7-2021
By:- S.C. WADHWA

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


3 Dated: 26-7-2021
By:- KASTURI SETHI

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


4 Dated: 26-7-2021
By:- ABHISHEK TRIPATHI

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). If 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.


5 Dated: 27-7-2021
By:- Ganeshan Kalyani

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.


1

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