13 June 2020
If a party who import goods made payment with GST to Shipping Co. shipping co had raised invoice with GST & party claimed ITC on that invoice. Now if shipping co refund whole amount to party with GST then what will be the procedure of GST - Can party issues credit note to shipping co with GST & if yes then how ITC will be reversed which is claimed on that Invoice or is there any other procedure to handle this situation ?
CAclubindia
