Advance received in GST

time of supply- advance received or invoice date whichever is earlier

Notification No 66/2017 dated 15.11.2017 Advance received with regards to goods is not taxable at time of receiving advance.

Time of supply of goods supplied by a registered person other than the composition dealer shall be the date of issue of invoice or the date on which he should have been issued the invoice under section 31 whichever is earlier. So advance recieved is not taxable in the month of reciept unless the date of issue of invoice or the due date of issue of invoice falls within that month.

at the time of receipt of advance received

See Notification No. 40/2017 and 66/2017

For exam point of view please refer study material and RTP issued by ICAI in which relevant amendments are mentioned. Further these notifications are not amendments in law or act. These notifications are just treated as grant of relaxation for payment of tax and will attract tax liability in future after completion of relaxation period. Also as per notification GST is not applicable on advance received in case of trading of goods but GST will be payable on advance received in case of rendering of services.