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)
Quick Summary
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 Topics :
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
Related Topics :
CAclubindia
