Advance received from customer

credit note will be issued in the month of cancellation and will be shown in return.

I think no other option in this case

Hi ,

Please help me understand on invoiceing and taxation procedures incase of supply to indian Govt Factory having EPCG and this EPCG  they have taken now after 60%supply of matreial completed .

We are manufature of Machines , till date we are supplied to same PSU costmer with ED 12.5 % and CST 2% , now customer taken EPG asking me not to chatge any taxes .

How will i do this, what is the practice as per legal position.

thanks in advance.

Ram 

Receipt voucher shall be issued at the time of receipt of advance payment and subsequently if supply is not made then REFUND VOUCHER will be issued to the person whi had made the advance payment 

A hotelier recd an advance before July 1, 2017 for a marriage function to be held in Nov 2017. Now will he have to declare the advance amount on July 1, if yes in which form or return? Will he have to pay gst on advance taken before July 1?

Mr. Dev.,

1. GST levied after July 1st. If you received before july its not liable under GST. The function is after 1st July u ll be give GST Tax invoice and you ll b  pay GST Tax when return. 

2. The advance is taxable. It's shown in GSTR1. GSTR 1 contain Sales, Sales Credit/Debit Note and Advance Receipts. You can shown your advances on above "Advance Receipts" section...

3. It's same as 1....

Originally posted by : Ram Maddineni
	Hi , Please help me understand on invoiceing and taxation procedures incase of supply to indian Govt Factory having EPCG and this EPCG  they have taken now after 60%supply of matreial completed . We are manufature of Machines , till date we are supplied to same PSU costmer with ED 12.5 % and CST 2% , now customer taken EPG asking me not to chatge any taxes . How will i do this, what is the practice as per legal position. thanks in advance. Ram

No more changes for GST billing. You can raise GST Invoice to your customer befor understanding your purchase order by you and your customer.

Then.,

In my view no more effects affected your sales. Just 0.5% difference made GST vs ED&CST rates for the Machinery...

Need to pay GST on advance received either you Gross-up the amount received from customer or ask cusotmer to pay advance with GST. Further, Advance received voucher to be sent gcustomer classifying between advance against supplies and GST