https://www.taxtmi.com/forum/issue?id=118451 Where an advance received in convertible foreign exchange was later treated as other income because the contract for supply of goods was cancelled and the amount was not refunded, commentators opined that no GST is payable: GST arises only when the time of supply is attracted or the supply fructifies, and here the supply did not materialize. en-us Thu, 30 Mar 2023 19:53:11 +0530 Thu, 23 Jan 2025 15:54:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118451 Where an advance received in convertible foreign exchange was later treated as other income because the contract for supply of goods was cancelled and the amount was not refunded, commentators opined that no GST is payable: GST arises only when the time of supply is attracted or the supply fructifies, and here the supply did not materialize. Discussion-Forum GST Thu, 30 Mar 2023 19:53:11 +0530 https://www.taxtmi.com/forum/issue?id=118451