TaxTMI 
TaxTMI 
GST on advance from customer
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....ST on advance from customer<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 30-3-2023 Last Reply Date:- 2-4-2023 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>XYZ (India) receive....
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....d 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 ....
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....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 received in convertible ....
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....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: There would be no liability a....
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....s 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 amount as supply has not fructifie....
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....d.<br> Discussion Forum - Knowledge Sharing ....