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same party debtor and creditor

12 September 2018

If debtor and creditor is a same party and creditor dues more than debtor than, How to apply 180 days period for GST reverse?

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2 Replies

Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 12 September 2018

You can adjust the ledgers monthly and check total due till today after adjustment. Then check that amounts with the bills pending for adjustment. If any bill pending then for the same GST need to be reversed.

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Rohit Tibrewal (Student & Senior Accountant) (3193 Points)
Replied 12 September 2018

You can adjust the ledgers monthly and check total due till today after adjustment. Then check that amounts with the bills pending for adjustment. If any bill pending >180 days then for the same GST need to be reversed.