GST ON cessation of liability

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Kamal Sawlani

7 Points Joined August 2019

a private limited company registered in Gst making taxable supplies writting off some of his liabilities as it ceases to arrise in future so is there any liability of Gst if cessation of liability of rs around 15 lakhs

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DHRUV

student

127 Points Joined November 2014

NO, AS AT THE TIME OF PURCHASE , THE COMPANY HAS ALREADY PAID GST TO THE SELLER AND HAS CLAIMED ITC. GST HAS NO ROLE WHEN IT COMES TO CESSATION OF LIABILITY DUE TO ANY DISPUTE BETWEEN THE PARTIES.