reimbursements Archives - All About Finance

GST Update on “Society Charges” collected by builder

November 13, 2017 by Ca Pradeep Jain

A builder is supposed to collected an amount for repairs and maintenance of flats. This collection is being kept in a separate account dedicated for the purpose. Until the residential housing society is formed, the expenses for repairs and maintenance of flats are borne out of this account. Once the society is formed, this account … Read more

GST On Employee Reimbursements

November 13, 2017 by Ca Pradeep Jain

Under GST regime, there have been a lot of issues regarding taxability of transactions between employer and employee and applicability of reverse charge mechanism on such transactions. Now, according to clause 1 of Schedule III of the CGST Act, 2017, any services provided by employee to employer in course or in relation of employment shall … Read more