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GST on advance from customer, Goods and Services Tax - GST

Issue Id: - 118451
Dated: 30-3-2023
By:- Kaustubh Karandikar
GST on advance from customer

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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 income in the books of accounts since not refunded to the customer. Whether XYZ is required to pay GST on it?

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Showing Replies 1 to 3 of 3 Records

Page: 1

1 Dated: 31-3-2023
By:- Amit Agrawal

NO, in my humble view, presuming that advance was so received in convertible foreign exchange in India.

These are ex facie views of mine and the same should not be construed as professional advice / suggestion.

2 Dated: 1-4-2023
By:- Shilpi Jain

There would be no liability as the time of supply has not attracted

3 Dated: 2-4-2023
By:- Padmanathan Kollengode

I agree with the views of the experts. No GST shall be liable to be paid on the amount as supply has not fructified.

Page: 1

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