Excess credit from customer
This query is : Resolved
08 November 2022
Sir, This is our retail industry some of the customer paying excess amount like 30/- to 500/- ..... it is accumulated as lakhs.. Some of the customer asking refund and some of the customer is not asking... So, that amt is fully taxable and we offered as income in our books...my doubt is whether it will covered under gst or not. Pls reply.
08 November 2022
As such it is not liable for GST, but if it accumulates in lakhs; better to offer its GST, to avoid any discrepancy in ITR & GSTR figures.
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