GST on advance from customer

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... XYZ (India) received advance from a customer from Russia towards supply of goods to Russia, but the contract got cancelled due to Russia Ukraine war and therefore the advance was shown as other inco .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... me in the books of accounts since not refunded to the customer. Whether XYZ is required to pay GST on it? - Reply By Amit Agrawal - The Reply = NO, in my humble view, presuming that advance was so r .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... eceived in convertible foreign exchange in India. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. - Reply By Shilpi Jain - The Reply = .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... There would be no liability as the time of supply has not attracted - Reply By Padmanathan Kollengode - The Reply = I agree with the views of the experts. No GST shall be liable to be paid on the a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... mount as supply has not fructified. - GST on advance from customer - Query Started By: - Kaustubh Karandikar Dated:- 30-3-2023 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X