hi, if the employee paid in his pocket to purchase for the company...
then question in my mind
1. Can we take inputs credit on these bills.
2.how we can make an entry of it.
| Originally posted by : SUMIT BADYAL | ||
 |
Yeah, the invoice in the name of the company and gst no mention on it, but paid by the employee |  |
ITC can be availed in such a scenario. Do not reimburse the employee in cash if bill value is >=10k
IF THE INVOICE IS ON THE NAME OF COMPANY THEN U CAN CLAIM GST.
PURCHASE A/C DR
TO EMPLOYEE
AT THE TIME OF REIMBURSEMENT
EMPLOYEE A/C DR.
TO (MODE OF PAYMENT)
SMJ global advisors pvt ltd
New Delhi
B.Com
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SMJ global advisors pvt ltd
New Delhi
B.Com
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R P S K & Associates
Nashik
CA Inter
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Karia Overseas
Ahmedabad
CA
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CAclubindia
