Writing off debtors
This query is : Resolved
25 May 2021
If a company sells goods to a party inclusive of GST on credit and after sometime buyer refused to pay money for the goods purchased, how can a company record such entry in books and what are the implication of GST on this transaction.
Thanks in Advance.
Thanks in Advance.
25 May 2021
Section 15: Value of taxable supply
Section 34(1) of CGST Act, 2017
Reading together the above two sections it can be said that bad debts are not allowed for the reduction in GST liability.
Section 34(1) of CGST Act, 2017
Reading together the above two sections it can be said that bad debts are not allowed for the reduction in GST liability.
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