Amendment of section 31c
s 50
The Sales Tax Act 97 is amended in section 31C— (a) in the shoulder note, by inserting after the word “for” the words “doubtful debt or”; (b) in paragraph ()(b), by inserting after the words “such person” the words “has been provided in his accounts as doubtful debt or”; and (c) by substituting for subsection (4) the following subsection: “(4) For the purpose of this section— “bad debt” means the outstanding amount of the payment in respect of the sale of taxable goods Finance 7 including the sales tax which is due to the person but has not been paid to, and is irrecoverable by the person; “doubtful debt” means a provision made with respect to the outstanding amount in the person’s accounts consistent with the generally accepted accounting principles.”.