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.
The sale and purchase of residential property is not subject to GST, except for new residential property. Therefore, on the sale of a second-hand home, GST is not payable by the Vendor, nor can the Purchaser made liable to pay GST.It does not matter whether the property is owner occupied or is an investment property-as long as it used for residential purposes and is not new it is exempt.ST is payable by vendors and lessors because they provide a taxable supply of real estate services. The GST liability is not passed on to a purchaser unless the contract provides or to a tenant unless the lease provides for it to be passed on.