if i purchase from an un-registered person and pay an advance of say Rs. 2,00,000 then what invoice should i raise for such advance payment? If i pay GST on RCM basis but my contract is ceased and the supplier refunds me the amount paid. Then how shall i claim refund of my taxes paid on RCM basis?
"ADVANCE PAID" is not under Taxable. When you get goods/services with invoice then only you can claim such input. Even it's URD then you can pay tax under RCM at the time of billing.......
If you received any advances for supplies then you can pay tax on advance. If you ll repay the amount without supplies then you can reverse the Tax as use payment voucher.....
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