Sir,
In the company books the loans are written off and treated as income then attract GST are not
2 Replies
Lakshman Kumar Kadali
(Chartered Accountant)
(101 Points)
Replied 06 July 2020
GST is applicable on supply of goods or services and in the instant case there is no supply at all. Further, schedule -1 covers only the transfer of business assets on which ITC is claimed.
No GST is applicable
No GST is applicable
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