23 February 2019
with reference to above our client got deposits from our customer for Rs.20 lakhs in this month because our job is automation oriented , it is ready to delivery atleast 3 months what is the treatment gst and income tax side. please rectify this one.
24 February 2019
Hi, As per CGST Rules 50 any amount received as advance,then it is mandatory to issue Receipt Voucher,and the GST amount paid on the basis of receipt Voucher is not eligible to take ITC.
CAclubindia
