GST payable on advance or not
Advance received against supply of Goods
Menu
GST of Advance
Replies (3)
Yes GST is applicable on advance amount also
No , GST not applicable on Advance received against Goods . The entire amount will be taxed on the issue of Tax invoice . refer Notification 66/2017 dated 15/11/2017 .
No GST is not applicable on advance received for supply of goods. Taxable on issue of invoice .
GST on advance applicable on service.
Recent Threads
- Deferment period for Advance Tax under Section 234
- Permanant transfer of duty free goods by Advance A
- 1% TDS Deduction on Property purchase through inst
- Tax on leave encashment on retirement
- Guidance Required on Notices Under Section 234B Af
- Rcm invoices and normal invoice
- Regarding STCG on Equity
- GSTR 9 details with same PAN & different Turno
- Hotel ITC
- ITR for Trust- 12A
CAclubindia
