Hi,
Govt have recently issue notification on Advance receipt in GST, in which govt said that there is no need to pay Gst on advance receipt.
Is is applicable on previous advances received before 15th nov, 2017. Please update.
Menu
Advance receipt on supply in gst
Replies (3)
Taxpayer having annual aggregate turnover up to 1.5 crores need not requried to pay GST on Advance .
But we have a turnover above 1.5 crore.
In that case, we have to pay GST on advance received before 15th Nov, 2017 ?
Yes you have to pay tax on advance. Before 15nov.after 15nov.no need to pay tax on advance.
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
