This is why you usually find stalactites and stalagmites in pairs, and sometimes they'll even grow together to form one big column. There are many limestone caves around the world famous for their displays of dripstone, including Carlsbad Caverns in New Mexico, Timpanogos Caves in Utah, Mammoth Cave in Kentucky and Jenolan Caves and Buchan Caves in Australi.
Procedure 1  : GST received from customers: 2  It is a Liability to the Government. 3  You owe it to the Government. 4  Liability is increasing. 5  Credit the GST Clearing Account. 6  GST Paid to Suppliers by your business: 7  It is an asset to you.8  Government has to pay this back to you. If the GST Account has a credit balance. 2  It is a liability. 3  Remit that amount to the Govt. 4  The GST account acts both as an Asset account or Liability account, depending on the balance.
18 TAX GUARDIAN-APRIL 2015 dimensionâ for the words âsufficient effortsâ. BAD DEBT RELIEF: GST VERSUS INCOME TAX In examining claims of GST bad debt relief, it is natural to draw parallels with deductibility of bad debts under the Income Tax Act 1967 as a âshort cutâ in interpreting GST practices.his is the case for bad debt relief under GST versus Income Tax where the qualifying criteria for GST is arguably lower than the high bar set by Income Tax Act 1967 (requirement of debt to be âirrecoverableâ).