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
Menu
Applicability of GST liability on receipt of advance against sale
Replies (3)
GST on advance received for supply of goods is not in place currently.
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
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.
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
