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employee advance

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Rajkumar Gutti

Rajkumar Gutti (Querist)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 April 2018 Advance write off allowed under income tax. No gst applicable on it.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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05 April 2018 Advance written off can be adjusted as exps ,GST not applicable for above transaction

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