Fringe benefits availed by employees liable to GST

The new Goods and Services Tax ( GST ) will be applicable on any non-monetary fringe benefit an employee gets from his employer, the government said today. Monetary compensation paid to employees is not considered supply and will not attract GST, the Central Board of Excise and Customs (CBEC) said in the latest round of clarification issued in form of frequently asked questions (FAQ). The monetary…