Question83: As a policy matter we deposited gst on advances received from 1st July till 13th November 2017. Later on rules was withdrawn from act. So my Queries are:

1. We have deducted RCM GST on advances from customers and the same was deposited but not billed to customer yet. So I have pending ITC against RCM in my books , can I take as input tax credit against this as on 31/03/2018 as there is no policy on it now.


Answer We have understand your question as follows. if we are wrong please correct us.
Query :-
You deposited tax on various advances between 1st July to 13th Nov and these are against supply of goods (Since Advance against services is still taxable on . payment basis) Now the question is after the suspension of charging of tax on advance how this is to be treated.

Answer

There are two possibilities:-

1. You will have to provide supply of goods in future and the tax already deposited will be adjusted against that supply.

2. In case the order is cancelled & you will not supply the goods, then.

Following treatments to be applied case wise:-

1. When you will issue invoice at the time of supply in future then you will adjust the tax already paid.

2. If you are not making any supply in future then you will have to issue refund voucher as per Rule 51 of CGST Rules, 2017. The tax already paid will be deducted from outward liability of the month in which advance voucher is issued. (Reply dt. 02/4/2018)