Installment not paid by student - gst

Save Share

This query is : Resolved

Jatin (Querist)
Follow

26 August 2017 Dear Sir,

We are run a private coaching center, student give fees on installment basis for example total course fees Rs. 40,000 including GST

01.07.2017 10000
01.08.2017 10000
01.09.2017 10000
01.10.2017 10000

Please guide me, if student paid fees only July, 2017, from 12.08.2017 student not coming for classes & not paying fees. How can handle situation, because we are book liability of GST in our books as per installment basis. Can i issue Credit Note to reverse gst liablity which is already book for the month of August, 2017.

Thanks in advance

RAJA P M

RAJA P M (Expert)
Follow

26 August 2017 Yes. You can prepare Credit note then you can get Reverse/ITC on that credit note based

Jatin

Jatin (Querist)
Follow

26 August 2017 Thank you very much sir for your quick reply, but sir services provided to student from our side till 11.08.2017. Please sir also tell me invoice generate or not for the month of September & October, 2017 (Student already drop out in the month of August, 2017)

Thanks in advance

RAJA P M

RAJA P M (Expert)
Follow

26 August 2017 In case you generated any invoice before 26.08.2017 you can create Credit Note. After 26/08/2017 you don't be create any invoice to that student...

Jatin

Jatin (Querist)
Follow

26 August 2017 Again Thank you very much sir, OK got it

one more query sir, 26.08.2017 how to you

RAJA P M

RAJA P M (Expert)
Follow

26 August 2017 Ha ha ha... Bro, Today is 26.8.17. I think you ll be create invoice to that student name in today. Then what can we do. So, Only

Message likes : 1 times

Jatin

Jatin (Querist)
Follow

26 August 2017 Again Thank you very much sir, OK got it one more query sir, Date 26.08.2017 how to you calculate

RAJA P M

RAJA P M (Expert)
Follow

26 August 2017 What you mean? I'm not understanding this

Message likes : 1 times

Jatin

Jatin (Querist)
Follow

26 August 2017 No Sir, your reply is very informative & i understand very well, in my previous query i typed only how to you instead of how to you calculate, therefore again query raised.

Sorry Sir, i

Jatinder

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now