15 Things to do before March End – GST

Reversal of Input tax credit – As per the rules of Input tax credit, after issuance of tax invoice if the receiver does not make the full payment of amount within 180 days then the credit taken on that invoice is to be reversed. And whenever the payment is made, the receiver can take the credit for the amount. Therefore the aging analysis of the debtors and creditors is to be done. all old invoices issued before 1st October 2017, should be paid before 31st March 2018. Ex. Suppose the fees Rs. 10000 is payable to the Chartered Accountant...

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