GST ON ADVANCE FOR SUPPLY OF GOODS
This query is : Resolved
Rachana Gokhale
(Querist)
26 November 2021
Dear Sir/ Madam,
Is GST payable on receipt of Advance for Supply of Goods ?
If Yes, then when is it to be paid ?
We have received Advance payment in this month & Tax Invoice will be raised in next month at the time of supply.
Thanks & Regards,
Rachana
Is GST payable on receipt of Advance for Supply of Goods ?
If Yes, then when is it to be paid ?
We have received Advance payment in this month & Tax Invoice will be raised in next month at the time of supply.
Thanks & Regards,
Rachana
CA Altamush Zafar
(Expert)
26 November 2021
No GST on receipt of advance for supply of goods.
GST to be paid when supply made (invoice generated)
GST to be paid when supply made (invoice generated)
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