Menu
GST liability on Advance forfeit.
A RP received Advance against sale of plot, the said deal was cancelled and advance amount forfeit by the seller. Is there any liability of GST on advance forfeit.
Replies (2)
No GST is not applicable on advance forfeited
No....sale of Land is neither supply of goods nor the supply services (Schedule III)
Recent Threads
- How to Increase Website Traffic Effectively
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
Related Threads
CAclubindia
