Advance forfeited whether Export of Service
This query is : Resolved
27 May 2021
XYZ(India) supplied goods for export and taken advance payment against it. The foreign customer at the last minute cancelled the order and therefore XYZ had not returned back the advance to the customer. 1) If the foreign customer is a related party / parent company, is XYZ liable to pay GST on the advance forfeited? 2) If the foreign customer is an independent buyer and not related, is XYZ liable to pay GST on the advance forfeited?
CA R SEETHARAMAN
(Expert)
27 May 2021
In both the cases 18% GST payable.
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