Gst reversal on retained money
Querist : Anonymous
My query is
Whether gst is required to be reversed on retention of money?
There is a project which will complete in 5 years so sum amount of retained and not paid to supplier till the project complete. We book the full amount of gst on invoice but 10% of which not paid to supplier then whether it is mandatory to reverse gst on that 10% portion.
Querist : Anonymous
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