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GST of Advance

Others 237 views 3 replies
GST payable on advance or not
Advance received against supply of Goods
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.


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