Hi we are exporters, we did exports on payment of GST and after filing returns, we go the Refund amount, now my query is how do we treat this refund, should it be added to indirect income or should not be taken as income
please guide
thanks
shashi kiran
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GST refund
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| Originally posted by : Kiran | ||
 |
Hi we are exporters, we did exports on payment of GST and after filing returns, we go the Refund amount, now my query is how do we treat this refund, should it be added to indirect income or should not be taken as incomeplease guidethanksshashi kiran |  |
GST Paid is treated as Liability and thereafter is refund than it is not consider as income.
Thank you
It's not revenue in nature, it's should have been shown as Current Assets in your Balance sheet, Hence not part of Income. Thanking you
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