i have received advance payment from customer i m register person in gst. i m eligible gst liability.
received payment in july
i will give bill in august.
muze gst pay karana padega ka.
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Advance payment from customer
Replies (4)
As per GST act, liability to pay to tax arises
1.date of invoice or
2. date of advance received
whichever is earlier
therefore u need to pay GST on advances received
1.date of invoice or
2. date of advance received
whichever is earlier
therefore u need to pay GST on advances received
yes your GST liability arises in the month July itself
and u need to issue advance receipt voucher with containing of GST details
if case in letter of bond and advance received from direct customer from forighner
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