GSTR-1
This query is : Resolved
28 December 2017
We had received total advance of Rs. 5,00,000 in July, August, September 2017 for meditation shivir and paid GST on paid.
We had filed Gstr-1 of above 3 months.
In October 5,00,000 was refunded to participants.
can we take refund of GST paid...?
where to show in gstr-1 that we had refunded amount ...?
28 December 2017
As per my View.,
The advance is refundable then it's accounted under Deposits or Loans and Avances. Also here no more supplies based on the Advance Received. So, No need to pay GST Tax for Advance receipts...
But,
You are paid and also you are filed the details. Now you are repaid the amount...
So, You can prepare 'PAYMENT VOUCHER" and show the details in "COLUMN NO-11 OF GSTR 1".
NOTE :
The column is based on supplies with adjustments. But, You can't make any supplies for the advance. So, You ll show the details in that column...
The advance is refundable then it's accounted under Deposits or Loans and Avances. Also here no more supplies based on the Advance Received. So, No need to pay GST Tax for Advance receipts...
But,
You are paid and also you are filed the details. Now you are repaid the amount...
So, You can prepare 'PAYMENT VOUCHER" and show the details in "COLUMN NO-11 OF GSTR 1".
NOTE :
The column is based on supplies with adjustments. But, You can't make any supplies for the advance. So, You ll show the details in that column...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
