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.
1 The GST adjustment is to take place in the period when the bad debt is written off or when the owner becomes aware that the debt is bad. 2  For the debt to be considered bad, it needs to be overdue for 12 months.n order to do so, the ruling states that: GST must have been attributed. A decreasing adjustment for a bad debt can arise in respect of a supply if either 1  : you attributed the GST on the supply on your BAS in a previous tax period, or.