How to adjust invoice raised in March, returns filed, and now project canceled due to lockdown?

Others 247 views 1 replies

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?

Replies (1)
No .... as per Section 34 any debit/credit can be issued with GST effect till September following the end of FY.

Yes you can issue Credit Note for the same but cannot reduce output tax liability & not required to report such credit in GSTR 1.

I won't suggest you to take bill without having any services. It's contravention of the provision of Act & penalty & interest can be imposed.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details