B2B SALE TRANSACTIONS ADJUSTMENT(REVERSAL) PROCEDURE

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B.com
2405 Points Posted on 06 June 2022

A Gst registered regular scheme dealer dt:20-01-2020 b2b sales transactions taxable value rs:1 lacs and dt:21-12-21 b2b sales transactions taxale value rs:50,000/- . if dealer two sales transactions amount not received up to date.

Query:

Dealer b2b sales transactions non receipts adjustment procedure(reversal) in books and gst returns.

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On 06 June 2022 at 15:04 Report
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Quick Summary
This discussion addresses the procedure for adjusting or reversing B2B sales transactions in accounting books and GST returns when payment is not received. It explores whether such non-receipts should be treated as bad debts, the implications for future payments, and the correct method for issuing credit notes.

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GST Practitioner & Accounts
8996 Points Posted on 06 June 2022
Have you treated both the transactions as a Bad debts ? or amount including GST will received in future .
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On 06 June 2022 at 16:35
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Chartered Accountant
44442 Points Posted on 06 June 2022
Issue credit note in respect of such invoices.
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On 06 June 2022 at 22:21

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