Mahesh Kumar 13 December 2020
we have received advance for booking of 1,05,000/- including 5% GST(GST NOT PAID ON ADVANCE) now we are refunded 100,000/- remaining 5000/- how we show in books and GST and income tax related info
prasad Nilugal (Sr . Accountant and GST Practitioner . ) 13 December 2020
1) Why you refunded the amount ? what is the reason ?.
2) Have you issued receipt voucher on receipt of Advance payment ?
3) Have you issued payment voucher on Advance refund ?.
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