Gst on advance paid for the supply of services

This query is : Resolved

kiran (Querist)
Follow

25 January 2018 Sir,
What is the point of taxation for supply of services for which payment have received before the supply of service?
Whether GST has to be levied at the time of receipt of such amount?
If yes, Is there any threshold limit up to which there is no need to levy GST?
Please do the needful,
Regards,
Kiran

Udaya Chandran

Udaya Chandran (Expert)
Follow

25 January 2018 Yes, GST has to be levied at the time of receipt of such amount. Limit is Rs.20 Lakhs that includes all the taxable services.

Message likes : 1 times

kiran

kiran (Querist)
Follow

25 January 2018 Sir,
Whether GST has to be levied on all the amount received as advance or is there any limit on advance amount?
Regards,
Kiran

Udaya Chandran

Udaya Chandran (Expert)
Follow

25 January 2018 Yes, GST is to be levied on total amount received.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

mohammad.asraf

yogesh korani

xavier

sinu kurian

SHIBSANKAR DEY

Subscribe Now

Gst on advance paid for the supply of services

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

GST CONSULTANCY

CA Final

GST CONSULTANT

Accountant

Manager- Finance and Compliance