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.
You could not claim a GST deduction on the purchase price, if the sale is zero-rated. If the commercial property is to be sold without the existing tenant, GST will be payable by the vendor and the vendor would wish to increase the price by an additional 12.5 per cent on account of the GST payable.f the property being sold was a residential rental property, generally there is no GST payable on the sale. However, if the vendor claimed a GST deduction when the vendor originally purchased the property, the vendor would have to account for GST on the sale.