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 ?
1 Replies
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 17 May 2021
If you are treating it as deposits then no gst till adjusted. Otherwise pay gst
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