Creditor writeoff
This query is : Open
30 October 2023
Creditor's writeoff is shown as income in profit and loss account.
Whether the corresponding ITC needs to be reversed as per sec 17(5)(h)
Whether the corresponding ITC needs to be reversed as per sec 17(5)(h)
30 October 2023
But,
how many days after you write off creditors balance...???
01 November 2023
for 2018-19 write off during 2020-21
20 January 2024
Under GST, the requirement to reverse ITC arises only in case of actual write off. No ITC reversal is required where goods have been partially written off and provision to write off is made.
http://nityatax.com/wp-content/uploads/2019/10/ITC-reversal-on-goods-written-off-or-destroyed-–-A-new-pandora-box-under-GST.pdf
http://nityatax.com/wp-content/uploads/2019/10/ITC-reversal-on-goods-written-off-or-destroyed-–-A-new-pandora-box-under-GST.pdf
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can a partnership firm become partner in a LLP ?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- TDS on purchase of value vouchers for employees ?
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
