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GST implications on partial payment
If an entity wish to make payment to supplier on some criteria that 98% payment of invoice value at receipt of stock and the remaining 2% on quality check confirmation. will GST to be calculated on 100% value or as per the payments made that is GST on 98% and 2%.
Replies (2)
GST payable on raising of invoice irrespective of receipt of payment.
GST is always calculated at 100% taxable value. The terms of making payment does not matter while calculating GST
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