Advance received by Hotels and booking get cancelled and amounts kept in safe Custody for future supply. Suppose Amount received in April 2021 for supply in May 2021and booking cancelled, Amounts is utilise for supply in March 2022.
My Question is GST required to pay or not on such Advance amount kept under safe custody for future supply ?
Menu
GST on Advance Booking Cancelled
Replies (1)
If you are treating it as deposits then no gst till adjusted. Otherwise pay gst
Recent Topic
- While e filing otp not generating
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
Related Topics
CAclubindia
