Hi
In a software company the contract is finalized but amount is received in 3 or 4 parts as the clients pay advance basis completion of project and pay GST only during final payment.
when should the GST be paid considering that GST is paid by client only during final payment.
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GST applicability for software company
Replies (3)
gst in case of software company comes under supply of services
gst on full consideration
gst on full consideration
You Have to pay gst on advanced received against service...treat amount received as inclusive of tax and pay.
Yes GST is applicable on advance towards Services , hence pay GST on advance Reced.
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