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Issue ID : 115431
- 0 -

GST implications on Drawings

Date 16 Sep 2019
Replies1 Answers
Views 4774 Views

XYZ is a Proprietory Concern. The proprietor is withdrawing amount from time to time from the Proprietory Concern’s Account and the same is shown as ‘Drawings’ in the books of accounts. However, details regarding the expenses made against the same is not available. Will this have any negative impact under the GST provisions such as GST liability?

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Replied on Sep 16, 2019
1.

When there is no activity / supply there should not be a levy. I do not see a reason why the drawings would have any negative impact under GST.

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