Sir,
In the company books the loans are written off and treated as income then attract GST are not
2 Replies
Lakshman Kumar Kadali
(Chartered Accountant)
(101 Points)
Replied 06 July 2020
GST is applicable on supply of goods or services and in the instant case there is no supply at all. Further, schedule -1 covers only the transfer of business assets on which ITC is claimed.
No GST is applicable
No GST is applicable
Recent Topics
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
Related Threads
CAclubindia
