Dear friends,
Can anyone please guide us on how to show refund paid against advance received earlier.The gst amount on advance received was paid on receipt basis.
Do we need to apply for refund or can we adjust through Gstr1 or 3b?
Regards.
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Refund of advance received
Replies (2)
We have to adjust through GSTR-1 and GSTR-3B, no refund application is required
You need to make Refund voucher for such advance refund... And can reduce the GST liability by same amount from GSTR 3B of the month in which refund is made. provided recipient has not claim the ITC for same....And also show in GSTR1
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