Goods and Services Tax

Treatment in GSTR 1 if Advance refunded to party in subsequent month

Goods and Services Tax – Started By: – SHRIRAM AGRAWAL – Dated:- 10-7-2018 Last Replied Date:- 12-7-2018 – If have received an advance from our customer in May' 2018 and paid GST on the same by disclosing the same under advance received in GSTR 1 however, later on in the month of June' 2018, the advance was refunded to party due to some issues. Now where we can adjust this refund of advance in GSTR 1 of June' 2018. – Reply By Alkesh Jani – The Reply = Sir, In this regards, Section 31 (3)(e) of the CGST Act, 2017 is reproduced below:- (e) where, on receipt of advance payment with respect to any supply of goods or services or both the registered person issues a receipt voucher, but subsequently no supply is made and no tax invoic

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