GST on advance from customer

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..... GST on advance from customer
Query (Issue) Started By: - Kaustubh Karandikar Dated:- 30-3-2023 Last Reply Date:- 2-4-2023 Goods and Services Tax - GST
Got 3 Replies
GST
XYZ (India) receiv .....

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..... ed 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 .....

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..... as 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 fructifi .....

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..... ed.
Discussion Forum - Knowledge Sharing .....

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