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Indirect Taxation
Study material says that, "In case there is no consideration, but the activity is a supply by virtue of Schedule 1 of CGST Act, the taxable value will have to be worked out as prescribed and uploaded" I want to ask that since no payment will be received actually then how it will be adjusted in the books of accounts. Will such invoice value be written off or something else will be done? Kindly tell the appropriate accounting treatment...
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