Treatment of advance against Export of services to USA

Dear All, 

Respected  members, I have a query on treatment of Advance received against Export of Services ( ZERO rated supply) without payment of tax under LUT.

We received a remittance in advance in USD from USA against consulting services while booking for Feb 2021 GSTR 1,

1. Should I use Table 11A (TAX liability/advance received) for filing only?

2. And under this table I will choose POS  under "97-Other territory" because this advance is against Zero rated supplies (without payment of tax) and will choose 0% interest.

Please advice on the above and anything we should take care on matter, it's an urgent query as return due date for this will be 11th March 2021.

Looking forward to hearing from you.

Regards, 

KAMAL

Replies (3)
Quick Summary
This discussion addresses the correct GST treatment for advance payments received from the USA for export of services. The initial query focuses on reporting these zero-rated supplies under LUT in GSTR-1, specifically using Table 11A and selecting '97-Other territory' with 0% interest. A follow-up query arises when the project is cancelled and the advance needs to be refunded, asking how to reverse the advance receipt on the GST portal without payment of tax.

You are right Mr Kamal.

Dear Sir, You replied to my query on 9th March 2021 on which i booked the advance receipt, now a new problem have arrived and project got halted for more then 2 months and finally it got cancelled, now we have to refund back the money to client. 
My query here is how we can reverse the advance receipt on GST portal without payment of tax.

Please reply as soon as possible.

Fill it in advance adjusted

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