Suggestions on GST Implementation Issues 28.09.2017 by ICAI
47. Treatment of tax paid on units cancelled
Under CGST Act, Section 34(2)provides that any registered person who issues a credit note
in relation to a supply of goods or services or both shall declare the details of such credit
note in the return for the month during which such credit note has been issued but not later
than September following the end of the financial year in which such supply was made, or
the date of furnishing of the relevant annual return, whichever is earlier, and the tax liability
shall be adjusted in such manner as may be prescribed.
Issue
A Builder has issued demand note in the month of March. Buyer has cancelled the unit in
December i.e. after filing of GSTR for the month of September. Now, how builder can avail
credit/benefit of GST paid earlier at the time of demand note or builder has the option to
go for refund.
Suggestion
Suitable clarification be provided.
Read Complete Suggestions on GST Implementation Issues 28.09.2017 by ICAI Indirect Tax Committee in PDF
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