Dear Experts,
Please guide me on the below situation.
Our company policy says that there will be 3 month notice period that any employee will need to serve. The employees have few Earned Leave(EL) balances to their credit. The employees often opt to utilise the EL balances to cut short the notice period.
In the Full and Final working, (e.g) we show as follows
No. of notice days not served - 30 days; No. of EL available - 36 days
EL payable (EL - notice period) = 6 days.
In this case, do we still need to recover and pay GST? If yes, is it at 18% or any other rate. What will be the SAC code that will be shown?
CAclubindia
