Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Real estate and construction

Aparna (accountant) (184 Points)

29 April 2021  

Hello sir,

I am registered in GST. My business is real estate.

I have return the advance receipt which I have received before GST regiam.

Now my question is can I consider In gst or not ??? Can we reduce gst on that amount or not ?

Kindly guide

 10 Replies

Sourav (Student) (23887 Points)
Replied 29 April 2021

GST amount paid on advance amount, which is refunded subsequently, can be adjusted through regular GST returns. In this regard reliance is placed upon the table number 9 of GSTR-1 form notified vide CGST Rules 2017.

sabyasachi mukherjee (6710 Points)
Replied 29 April 2021


In 2017 you hv received advance and returned the same.
I do not think you can consider it now.
any supplies received on your part.
if not it will be shown as advance received.

Ankit Neema (2732 Points)
Replied 29 April 2021

In my view you need not to consider the GST on the amount.

1 Like

CMA Poornima Madhava (CMA) (12987 Points)
Replied 29 April 2021

Now there will not be any GST liability on such advances as under pre-GST regime, you would have already considered service tax on advance receipts (if applicable).

sabyasachi mukherjee (6710 Points)
Replied 30 April 2021

Read the applicability of gst .
goods and service received for furtherance of business in lieu of consideration then gst is applicable.
Here gst is not applicable since goods is not supplied or services is not rendered as per basic eligibility conditions.
Generally advance received for completed contracts is subject to gst.

Heleer (Mr) (26 Points)
Replied 02 June 2021

You should ask an expert

Heleer (Mr) (26 Points)
Replied 02 June 2021

I don't know how to edit my comment, so I am going to type a new one. Speaking with a lawyer or a real estate agent is going to help a lot. Or you can check out companies like https://www.midmodphoenix.com/ in order to speak with experts. One time,  a friend of mine has told me about a time that he got scammed because we had decided to work with someone random. It's better to ask from multiple sources in order to make sure that you are making the right decision. After all, it's better to be safe than sorry, especially when it comes to this domain


CMA Poornima Madhava (CMA) (12987 Points)
Replied 02 June 2021

Expert advice and advice from multiple sources are definitely good options and probably CAclubindia is one among such multiple sources.

Mid Mod Contact, North & Co. LC........... E Thomas Rd Phoenix, AZ 85018

It is amazing to know that an organization located in Arizona is able to provide expert advice on Indian Statutes!

sabyasachi mukherjee (6710 Points)
Replied 03 June 2021

Whatever I have reteriated it's final.

ANUJ AGNIHOTRY (Advocate) (2 Points)
Replied 01 July 2021

Gst on house

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads


Subscribe to the latest topics :
Search Forum:

Trending Tags