Dear Sir,
please let me know if any tax would be deposit on advances taken in GST from our customers ,if yes then in which clause and section the tax liability arises
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ADVANCES TAKEN FROM CUSTOMERS
Replies (6)
if your bussines aggregate trunover is more than 1.5 cr, then you have to pay .
From 13/10/2017 Turn Over Less than 1.5cr GST Tax don't want payable on advance receipts....
Otherwise please refer this article
https://cleartax.in/s/advance-received-under-gst
Otherwise please refer this article
https://cleartax.in/s/advance-received-under-gst
thanks sir
You are Most welcome Dear
do advances from customers needs to be included in aggregate turnover
no need....
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