We were to undertake a project (service) over a period of a few months and the first invoice was raised in March, we were paid for the same and we had filed the return for that in time. Because of lockdown, the project didn't happen. We have now been asked by the company to refund that amount. How do we do that now as it is a new financial year and the returns have already been filed? Is there a provision in GSTR-1 of subsequent periods to adjust that? Our next GSTR-1 is dues in January.
They have also suggested that they can issue us an invoice of the same amount for a service and we can pay them, and then claim ITC for the GST. Is this an easier way to sort it out?
CAclubindia
