Service agreement cancelled
This query is : Resolved
03 October 2018
HI
Can any body explain how to deal in gst the following situation
we entered into an service agreement with one of the service recipient and raised an invoice for advance payment along with GST and filed the GSTR3B showing it as the output, after one month we had mutually agreed and cancelled the agreement, but both of us i.e service recipient and service proveder has taken the respective gst portion as output and input while filing their respective GSTR3b , now if the advance amount has been returned back to the service recipient how to show this in GSTR3b and GSTR1, plz explain from point of service recipient and service provider. Is it correct if the service provider raises a credit note against the invoice raised earlier or is there any other method of dealing the situation.
Thanks& Advance
A V Santosh Kumar
Can any body explain how to deal in gst the following situation
we entered into an service agreement with one of the service recipient and raised an invoice for advance payment along with GST and filed the GSTR3B showing it as the output, after one month we had mutually agreed and cancelled the agreement, but both of us i.e service recipient and service proveder has taken the respective gst portion as output and input while filing their respective GSTR3b , now if the advance amount has been returned back to the service recipient how to show this in GSTR3b and GSTR1, plz explain from point of service recipient and service provider. Is it correct if the service provider raises a credit note against the invoice raised earlier or is there any other method of dealing the situation.
Thanks& Advance
A V Santosh Kumar
Vishakha Kejriwal.
(Expert)
04 October 2018
The service provider needs to raise the credit note against the invoice issued earlier.
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