Aggregate turnover include advance receipt?

Hi,
I have a doubt that if a person has taxable sales of Rs 38,00,000 and he received advance from customer for Rs 5,00,000. Will he liable to register the GST? The Threshold limit is 40,00,000.
Replies (4)
Quick Summary
This discussion clarifies whether advance receipts from customers count towards the aggregate turnover for GST registration purposes. While advance payments themselves aren't considered sales, the key factor for registration liability depends on whether the business deals in goods or services. For goods, the threshold is Rs 40 lakhs, but for services, it's significantly lower at Rs 20 lakhs, meaning advance receipts could trigger registration if services are involved.

Have  you  sold  the taxable  Goods  or  provided  taxable services  ?. 

The 5 lakhs advance is not considering as sales. So, The sales is 38 lakhs.

Thus, reply to the question of Mr Prasad Nilugal...

But  Raja Sir  , If he has  provided  Services  then  limit  is  20 Lacs  , So he is liable for   registration . ( In case of Goods limit is 40 lacs ) .  

Originally posted by : prasad Nilugal
But  Raja Sir  , If he has  provided  Services  then  limit  is  20 Lacs  , So he is liable for   registration . ( In case of Goods limit is 40 lacs ) .  

 

Dear,

I replied to the querist as :

The 5 lakhs advance is not considering as sales. (this is not taken into calculations of T/O)

So, The sales is 38 lakhs.

 

Thus, reply to the question of Mr Prasad Nilugal... (It's to querist for reply to Your question. Right..?)

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