GST implications on Drawings
This query is : Resolved
16 September 2019
XYZ is a Proprietory Concern. The proprietor is withdrawing amount from time to time from the Proprietory Concern’s Account and the same is shown as ‘Drawings’ in the books of accounts. However, details regarding the expenses made against the same is not available. Will this have any negative impact under the GST provisions such as GST liability?
CA R SEETHARAMAN
(Expert)
16 September 2019
These drawings not related to business, related to personal expenses no GST applicable on it.
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