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.
To claim a refund of GST, you must meet the following conditions: 1  you supplied goods or services for money. 2  you accounted for and paid the GST in your return. 3  you wrote off all or part of the sale as a bad debt in your accounts.4  a period of at least six months has passed since the sale.f you owe money to the debtor, you can set this off against any money the debtor owes you. For example: 1  you have a bad debt for a sale where you charged Â£630 (Â£600 + Â£30 GST). 2  at the time you decide to write off the debt, you owe the debtor Â£115. 3  the amount of the debt will be Â£630 less Â£115 = Â£515.