Menu
GST Liability in case of advance received from Customer
If the Company receives the advance from their customer on behalf of supply of goods in next month, so in this case who is liable to pay GST means either advance giver or receiver? and in case of receiver, how will adjust the same in invoice at the time of supply because no adjustment prescribed in invoice format
Replies (3)
hi i wanna apply for gst
hi i wanna apply for gst
Dear Sir,
GST on advance has to be paid by the receiver of the advance.
There may be no adjustment in Invoice format but there is definitely an adjustment in Return format.
Recent Topic
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
- CGAS account Holder Deceased
- ITR form suggestion
- Post office KVP income.
- Free GST invoice tool I built for my practice R
- Clarification on Gratuity Exemption under Section
Related Topics
CAclubindia
