can you please guide which is new requirements in GST to pay advance to vendor.
Proforma invoice is mandatory in all cases?
In some cases we dont get any documents for advance payment. for e.g. RTO tax payment etc.
Please suggest.
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Advance Payment to Vendor
Replies (10)
If U gives Advance Payment to vendor then U must make Receipt voucher nd charge tax On advance payment
A registered person shall, on advance payment with respect to
any supply of goods or services or
both, issue a receipt voucher
containing the particulars as
prescribed.
Thanks for details.
To make advance payment vendor any documents required from vendor? If yes then it is mandatory?
To make advance payment vendor any documents required from vendor? If yes then it is mandatory?
if we make advance payment to vendor he should give receipt voucher and pay tax. We need not pay anything.
then wat abt when we received advance from unregistered customer's wats the treatment??
I understand after advance payment vendor should give receipt.
My Question is- Any documents and details required from vendor to make advance payment?
My Question is- Any documents and details required from vendor to make advance payment?
same treatment, you have to pay GST on any advance received from your customer, whether he is registered or not. you simply issue receipt voucher to hi.
no. as a payer you need to receive a priscribed receipt voucher from supplier
Thanks for information
The person who is receiving advance, will have to pay GST and will have to issue receipt voucher
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