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advance before appointed date i.e. 1 july
if I paid an advance amount in May for goods to be received in July then on receipt of this goods gst will be charged or old vat will be charged ......as gst talks that time of supply will be earlier of invoice and payment.......
Replies (1)
If the bill is raised before july and charged VAT, then no GST to be paid.
If bill raised under GST then yes, GST has to be paid.
Here time of payment(Advance ) is not falling under GST regime.So taxable event is invoice.
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