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GST ON BAD DEBTS

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79 Points Posted on 29 December 2020
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.
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On 29 December 2020 at 22:37 Report
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STUDENT
1631 Points Posted on 30 December 2020
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 ...!
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On 30 December 2020 at 00:01
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378 Points Posted on 02 January 2021
Credit note issuance is period upto end of October month what if same is expired.
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On 02 January 2021 at 15:26
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STUDENT
1631 Points Posted on 02 January 2021
Practically can issue financial credit note , technically answer is no
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On 02 January 2021 at 22:04


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