Write-off of Unclaimed Creditor Balances Not Taxable Under GST, Says Authority for Advance Rulings (AAR.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Taxability - amount written off in the books of account of the applicant as creditors balance - there are no services received or provided by the applicant company in this situations/transactions. So, this transaction of writing off unclaimed amount of the contractors/other creditors is basically an income and not a supply, hence outside the purview of scope of supply under the GST Act - not taxable under GST - AAR....