Adjusting the previous advance amount received for a export of service that was later cancelled and can such amount be adjusted against the upcoming export of service to the same party .
Is this allowed aur not ?
If not pls let me know what is the way we can treat this transaction.
Menu
Export of service adjustment of advance amount
Replies (2)
It's fine you have some advance payment from Overseas Party. if you have cancel the invoice than you can adjust that advance received against next invoices
Yes can be adjusted. As in case of Export Services, there is no such custom restrictions as in case of Export of Goods.
Recent Topic
- Forward tax charge gst related
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
- SBI gold bond interest
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
Related Topics
CAclubindia
