https://www.taxtmi.com/article/detailed?id=7897 Preferring inter state purchases reduces GST cash outflow because IGST input tax credit can be set off against both central and state GST liabilities, while SGST and CGST ITC are more restricted. Treating customer receipts as deposits defers recognition as consideration-under CGST definition a deposit is not consideration until applied-and there are currently no GST rules taxing notional interest on such deposits. Administrative rules on bad debt write offs and limitation periods do not automatically affect GST valuation or taxability of long outstanding receivables. en-us Tue, 27 Feb 2018 06:59:18 +0530 Tue, 27 Feb 2018 06:59:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7897 Preferring inter state purchases reduces GST cash outflow because IGST input tax credit can be set off against both central and state GST liabilities, while SGST and CGST ITC are more restricted. Treating customer receipts as deposits defers recognition as consideration-under CGST definition a deposit is not consideration until applied-and there are currently no GST rules taxing notional interest on such deposits. Administrative rules on bad debt write offs and limitation periods do not automatically affect GST valuation or taxability of long outstanding receivables. Articles Goods and Services Tax - GST Tue, 27 Feb 2018 06:59:18 +0530 https://www.taxtmi.com/article/detailed?id=7897