advance received

raghav seth (proprietor) (66 Points)

15 June 2017

Whithin how much time have goods for which advance has been received to be supplied under the GST regime?

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4 Replies

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 15 June 2017

no time limit prescribed , it would be as per the contract

raghav seth (proprietor) (66 Points)
Replied 15 June 2017

Ok.thanku...what about the refund of tax in case the advance is returned after a few months due to cancellation of order?

Preeti (Team_GSTSoln) (Team GST Experts) (1926 Points)
Replied 15 June 2017

u issue refund voucher to buyer, can adjust the same itc from output liab in the same month

hitesh (business) (22 Points)
Replied 04 July 2017

hello

can we charge customer GST on advance received for order...Thank you

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