Advance against supply of goods

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seeta (Querist)
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18 May 2021 I have received advance 200000/- on 30/04/2021 and material sale on 05/05/2021.

while filling gst return of april '21 we have to charge gst on advance of Rs.200000/- .

If yes than how much

If no please share the reason.

CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)
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18 May 2021 GST Rate will be the rate of goods and calculate Rate as Advance Amt is including GST Amt i.e assuming rate of goods is 18%
So GST will be 200000 x 118/100 will be the gst amt

seeta

seeta (Querist)
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18 May 2021 Sir where we have shown in GSTR-1

In GSTR-3B

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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18 May 2021 You don't have to pay GST on advance received against sale of goods. You may pay GST on the basis of invoice.

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CA Altamush Zafar

CA Altamush Zafar (Expert)
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18 May 2021 No gst on advance for goods. Pay gst on issue of invoice.

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CA. Bhavik P. Chudasama

CA. Bhavik P. Chudasama (Expert)
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18 May 2021 Sorry for misinterpretation

Expert Opinion is correct GST on advance for supply of goods is waived by Notification 66/2017

I rectify my opinion expressed earlier

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