Coronavirus discounts, bad debts may hit GST collections; businesses need to do this to cut tax risk

The pandemic has arrested business activities across the trade and commerce, and recovery of full payments from the customers on outstanding invoices, is proving to be an uphill task. In order to manage the working capital, businesses are bound to offer some discounts to its customers for realizing timely payments. Further, in worst cases, debts will turn out to be bad, and businesses would not be…