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This query is : Resolved
24 May 2011
Dear Sir,
As per the ammendment ST is now payable on Accrual basis from 1st April.
But what about the Debtors existing as on 31st March ?
Do we have to pay ST on payment basis on these balances?
As per the ammendment ST is now payable on Accrual basis from 1st April.
But what about the Debtors existing as on 31st March ?
Do we have to pay ST on payment basis on these balances?
24 May 2011
till 30th june assesees are allowed to square up the old deals, from 1st july new system is stricly to be followed.
24 May 2011
But sir,
for example, i had raised bills worth Rs. 1 cr in 2010-11 but i didnt receive a single rupee against it. So what is the status now. Do i have to pay Rs 10.3L in the month of April as liability against ST or shall pay ST only after i receive the cash?
What if it is a bad debt now?
for example, i had raised bills worth Rs. 1 cr in 2010-11 but i didnt receive a single rupee against it. So what is the status now. Do i have to pay Rs 10.3L in the month of April as liability against ST or shall pay ST only after i receive the cash?
What if it is a bad debt now?
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