One of my client supply a goods to firm X of rupees 20 lacs approx during the f.y 19-20 but this firm is run away (bhag gyi) and not paid the outstanding dues.
So, what action we can take now ?
Please advice ...
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GST OUTPUT LIABILITY
Replies (2)
Once invoice is issued you would pay the gst. Bad debt arises only if the dues are unable to collect after taking much effort. You have to write off both the value of the invoice and also the tax portion.
Thanks sir, can we reverse output tax liability
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