GST on advance received and subsequently the advance is returned
Query (Issue) Started By: – saravanan rengachary Dated:- 27-10-2017 Last Reply Date:- 7-11-2017 Goods and Services Tax – GST
Got 7 Replies
GST
Please suggest:
GST is paid on the advance received from Customer.
Subsequently, Customer has cancelled the order and asking us to refund the advance paid. Goods also not supplied.
Please suggest how to adjust the GST paid on advance amount.
Saravanan.
Reply By Rajagopalan Ranganathan:
The Reply:
Sir,
According to Section 31 (d) & (e) of CGST Act, 2017
"a registered person shall, on receipt of advance payment with respect to any supply of goods or services or both, issue a receipt voucher or any other document
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