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GST on reversal of Provision
what is the GST applicability in case of reversal of provisions made before GST period??
Replies (1)
There would be no impact if such reversal does not amount to a supply under GST.
If there is a supply and provision is reversed and income is booked, such income would be liable to GST.
Note - any provision reversals forming part of P&L to be considered as adjustment figures while filing GSTR 9C for such FY.
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