Incase of cancellation of contracts, the supplier cannot sit on refund of GST to the recipient, pending receipt of refund from the GST Department

Incase of cancellation of contracts, the supplier cannot sit on refund of GST to the recipient, pending receipt of refund from the GST Department https://www.taxtmi.com/article/detailed?id=11667 Where a contract is cancelled after advances or an invoice with GST has been paid, the supplier must issue a credit note to adjust tax in the return; if no invoice was issued, the supplier must issue a refund voucher and may file for refund of excess tax. A claim for a complementary refund from tax authorities is distinct and does not permit the supplier to retain the GST component owed to the recipient. en-us Fri, 28 Jul 2023 10:29:35 +0530 Fri, 28 Jul 2023 10:29:35 +0530 TaxTMI RSS Generator Incase of cancellation of contracts, the supplier cannot sit on refund of GST to the recipient, pending receipt of refund from the GST Department https://www.taxtmi.com/article/detailed?id=11667 Where a contract is cancelled after advances or an invoice with GST has been paid, the supplier must issue a credit note to adjust tax in the return; if no invoice was issued, the supplier must issue a refund voucher and may file for refund of excess tax. A claim for a complementary refund from tax authorities is distinct and does not permit the supplier to retain the GST component owed to the recipient. Articles Goods and Services Tax - GST Fri, 28 Jul 2023 10:29:35 +0530 https://www.taxtmi.com/article/detailed?id=11667