GST on Bad Debts

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30 Points Posted on 16 January 2020
Can we reverse gst payable account by issuing a credit note, if amount receivable from a person becomes bad debt for us?

Kindly help!
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On 16 January 2020 at 19:39 Report
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Quick Summary
This discussion addresses whether businesses can issue a GST credit note to reverse GST payable on amounts deemed as bad debts. The consensus is that under current GST regulations, bad debts are not a valid reason for issuing a credit note to reclaim GST. Therefore, you cannot reverse the GST payable account in this scenario.

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GST Practitioner
55067 Points Posted on 16 January 2020
No........ you cannot, as bad debts is not cover under GST
1 Reply
On 16 January 2020 at 23:56
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23 Points Posted on 17 January 2020
No....Agree with above answer.
1 Reply
On 17 January 2020 at 16:02

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