Dear Sir,
export sales is not realised (payment not received from client)
goods were exported on payment of duty. rbi extension availed
but now we have realised we cannot recover payment from client.
how to write off . (IGST PAYMENT ALONG WITH INTEREST) TO BE PAID BACK
DUTY DRAWBACK TO BE PAID BACK. WRITE OFF PROCEDURE FROM GST POINT OF VIEW
| Area | Action Required |
|---|---|
| RBI | Get write-off approval |
| GST | Pay IGST + Interest via DRC-03 |
| GST Refund (if taken) | Refund must be reversed |
| Duty Drawback | Repay drawback + interest |
| Accounting | Write off debtor + reverse benefits |
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
