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Applicability of GST liability on receipt of advance against sale

Deepak (ZZZ)     08 March 2021

 49 points

| My Other Post
Dear Expert,

We have received advance from one customer against sale of some gst applicable items after 30days. We are taking one month advance payment. Request to clear my doubt on following:

1 .Will GST be applicable on advance receipt and to be paid to govt before raising sales invoice
thanks in advance
Divyam Agarwal

Divyam Agarwal (Practicing Chartered Accountant)     08 March 2021

Divyam Agarwal
Practicing Chartered Accountant 
 35 likes  508 points

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GST on advance received for supply of goods is not in place currently.
1 Like
Pankaj Rawat

Pankaj Rawat (GST Practitioner)     08 March 2021

Pankaj Rawat
GST Practitioner 
 3672 likes  49851 points

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GST is applicable Advance against Supply of Services & there is no GST on advance for supply of Goods it's being deferred from 15/11/2017 by Noti 66/2017 CT
1 Like
CA Altamush Zafar

CA Altamush Zafar (GST Consultant)     08 March 2021

CA Altamush Zafar
GST Consultant 
 336 likes  5760 points

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If advance received for sale of services then gst applicable on date of receipt. If it is sale of goods then gst attracted when invoice is issued or is due to be issued.
1 Like

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