Advance received on supply portion/service portion
This query is : Resolved
Anantha Raman
(Querist)
13 November 2017
Sir
While claiming advance for supply portion/ service portion from my customer, is it mandatory to claim GST amount also from customer on advance and then what is the tax payable in this case, whether the tax amount or the tax from the total payment received( I mean need to treat the amount received inclusive of tax and hence separate the tax and remit. Kindly reply.
Anantha Raman.V.
While claiming advance for supply portion/ service portion from my customer, is it mandatory to claim GST amount also from customer on advance and then what is the tax payable in this case, whether the tax amount or the tax from the total payment received( I mean need to treat the amount received inclusive of tax and hence separate the tax and remit. Kindly reply.
Anantha Raman.V.
13 November 2017
Yes, the advance amount has to be treated as inclusive of taxes.
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