if any supply received advance money so advance payment is considered às a supply as per section 15(2) because supply for that amount is not derived to recipient ?
No.... GST Applicable on advance is not treated as supply. Actually the liability to pay tax on goods or services are prescribed in Section 12 & 13 of CGST Act Section 12 of CGST Act Time of Supply Goods : Advance received against supply of goods no GST is applicable as of today . This provision was put in abeyance for registered person whose aggregate turnover not exceeding 1.5 crore other than composition dealer , vide Notification 40/2017 CT ef 13/10/2017, then Vide Notification 66/2017 ,e.f 15/11/2017 this benefits was extended all other registered person .
Section 13 of CGST Act : Time supply of Services : Advance received against supply of Services, GST is applicable.
Note : Section 15(2) did not Prescribe GST on advance Reced.
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