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Imprest amount given to employee for expenses

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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 ?

16 June 2017 What is the impact of GST on above ?

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.


17 June 2017 Thank for response. Can u brief the conditions for taken ITC in above such cases...

And is there any limit ???

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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