What is the treatment of advance received in gst?
1. At the time of advance received (3 b & gstr1)
2. At the time of issue invoice
3. How to issue invoice.
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Advance recieved in gst
Replies (2)
As per notification 66/2017 15/11/2017 Gst on advance received against taxable goods supply is exampt , If you are rendaring service than GST is applicable on advance received against providing service .
If advance received and invoice issue both are ib same month then no need to pay gst
But if differ then gst to be pay
But if differ then gst to be pay
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