Treatment in GSTR 1 if Advance refunded to party in subsequent month
Query (Issue) Started By: – SHRIRAM AGRAWAL Dated:- 10-7-2018 Last Reply Date:- 12-7-2018 Goods and Services Tax – GST
Got 4 Replies
GST
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 servi
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