Gst on advance received against sale of goods
This query is : Open
10 July 2018
Hi,
As per Central Government vide Notification No. 40/2017 - Central Tax, dated 13/10/2017, no GST on advance received against supply of GOODs for assesses having aggregate turnover up to Rs. 1.5 crore w.e.f. 13th October 2017 & as per Notification No. 66/2017 – Central Tax, dated 15/11/2017 for aggregate turnover above Rs. 1.5 Crore w.e.f. 15th November 2017.
With reference to above Notfn's, If Advance received against sale of Goods is not Taxable under GST, Then is it compulsary to mentioned details of advances received in GSTR-1 Return - 11A(1) & 11A(2)?
Thanks in advance
Manoj
As per Central Government vide Notification No. 40/2017 - Central Tax, dated 13/10/2017, no GST on advance received against supply of GOODs for assesses having aggregate turnover up to Rs. 1.5 crore w.e.f. 13th October 2017 & as per Notification No. 66/2017 – Central Tax, dated 15/11/2017 for aggregate turnover above Rs. 1.5 Crore w.e.f. 15th November 2017.
With reference to above Notfn's, If Advance received against sale of Goods is not Taxable under GST, Then is it compulsary to mentioned details of advances received in GSTR-1 Return - 11A(1) & 11A(2)?
Thanks in advance
Manoj
10 July 2018
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