Imprest amount given to employee for expenses
This query is : Resolved
VIJAY BHATT
(Querist)
16 June 2017
What is the impact of Employer given Imprest money / PCS to employee for site expenses ?
Is there any limit ? If yes then monthly / yearly / per transaction ?? what ?
Is there any limit ? If yes then monthly / yearly / per transaction ?? what ?
VIJAY BHATT
(Querist)
16 June 2017
What is the impact of GST on above ?
Sagar Doshi
(Expert)
16 June 2017
In such scenario, it can be construed that Company had procured the goods or services from the unregistered dealer and therefore have to pay GST under reverse charge and then can claim the ITC if fulfill other conditions for ITC.
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VIJAY BHATT
(Querist)
17 June 2017
Thank for response. Can u brief the conditions for taken ITC in above such cases...
And is there any limit ???
And is there any limit ???
Sagar Doshi
(Expert)
17 June 2017
Its big list, refer some good article online which can give you brief understanding of it. But for your business scenario, I will recommend you to consult tax expert.
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