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GST ON BAD DEBTS


NOOHUNNAJEEULLA KHAN Harihar   29 December 2020

NOOHUNNAJEEULLA KHAN Harihar

 2 likes  65 points

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I have sold goods vide inv dated 20th may 2020. But party didn't paid till date, he is not in a position to pay, now i want to book it as bad debt in my books, can i revrse the output gst of the same. if yes what document i have raise.
Balamurali Unnithan MS

Balamurali Unnithan MS (STUDENT)     30 December 2020

Balamurali Unnithan MS
STUDENT 
 48 likes  908 points

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You can claim , after 6 months from the invoice date , you have a proper GST invoice !


And check you pay the output tax liability & its reported in your accounts .

& issue a credit not to the buyer regarding the same ...!
Sumit Shukla

Sumit Shukla   02 January 2021

Sumit Shukla

 12 likes  350 points

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Credit note issuance is period upto end of October month what if same is expired.
Balamurali Unnithan MS

Balamurali Unnithan MS (STUDENT)     02 January 2021

Balamurali Unnithan MS
STUDENT 
 48 likes  908 points

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Practically can issue financial credit note , technically answer is no

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