Poonawalla fincorps
Poonawalla fincorps

employee advance

This query is : Resolved 
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(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.
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CA R SEETHARAMAN

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

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