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For advance received

Bipin Kumar (54 Points)

16 March 2021

do we have to pay gst on advance received

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kartik agrawal (2 Points)
Replied 16 March 2021

For the supply of goods, advance is not subject to GST. But if it is for supply of service, then it is subject to GST. Supplier has to issue the receipt voucher and pay GST on advance. Calculate GST taking the advance received inclusive of GST.

Pankaj Rawat (GST Practitioner) (55010 Points)
Replied 16 March 2021

Yes if it is for supply of Service. else no GST applicable on advance received for supply Goods

CA Altamush Zafar (GST Consultant) (15544 Points)
Replied 16 March 2021

Gst on advance only applicable for services. For goods gst applicable only when invoice is issued or is due to be issued

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