LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

For advance received

Bipin Kumar (54 Points)

16 March 2021

do we have to pay gst on advance received

Reply
Follow
Share

3 Replies

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) (55030 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) (15907 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

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

Trending Online Classes

Live class on Bonus & Gratuity(with recording)

Mr.Balamurugan Ranganathan

Enroll Now

25 April 2024
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)

CA Arun Chhajer

Enroll Now

21 April 2024
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"

CA Vishal Zawar

Enroll Now

01 May 2024

view all classess

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads