employee advance
This query is : Resolved
Rajkumar Gutti
(Querist)
05 April 2018
Old employee outstanding advance ( employee Dr. Bal.) we written off .
that is transfer to bad advance account & account nullify
Is any impact on income tax or GST liability or any contravention of law.
please guide us.
Regards
Rajkumar Gutti.
that is transfer to bad advance account & account nullify
Is any impact on income tax or GST liability or any contravention of law.
please guide us.
Regards
Rajkumar Gutti.
CA R SEETHARAMAN
(Expert)
05 April 2018
Advance write off allowed under income tax. No gst applicable on it.
KAVIRAJA ADDANGADI
(Expert)
05 April 2018
Advance written off can be adjusted as exps ,GST not applicable for above transaction
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