Suppose we have received an advance from our customer in the month of July'17 and we have not made any supplies in July17, I understand that we have to pay the GST on the advance received in July'17. Now in Aug'17, we came to know that we don't have to make any supplies against the advance received due to cancellation of order. My question is how to get refund of the amount of tax/GST paid on advance received in July'17 or can we adjust the GST paid on this advance with our other liabilities.
CAclubindia
