Sir In construction company, received customer advance in the FY 2018-19. at the time of received customer advance GST also paid. not yet registration done. now i will refund the advance to him in this month.
what is impact in GST, can i claim reverse of GST in Sep 20 return.
In GST Law, GST Credit note can be issued for FY 18-19 till 30th September 2019 only. Since you have missed the deadline, you will have not be able issue GST credit note to the customer and will have to bear the GST refund you will pay to back to the customer.
T R SOOD & CO
New Delhi
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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