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This query is : Resolved

Kkamlesh (Querist)
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24 May 2011 Dear Sir,

As per the ammendment ST is now payable on Accrual basis from 1st April.

But what about the Debtors existing as on 31st March ?

Do we have to pay ST on payment basis on these balances?

U S Sharma

U S Sharma (Expert)
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24 May 2011 till 30th june assesees are allowed to square up the old deals, from 1st july new system is stricly to be followed.

Kkamlesh

Kkamlesh (Querist)
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24 May 2011 But sir,

for example, i had raised bills worth Rs. 1 cr in 2010-11 but i didnt receive a single rupee against it. So what is the status now. Do i have to pay Rs 10.3L in the month of April as liability against ST or shall pay ST only after i receive the cash?
What if it is a bad debt now?

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