GST ON ADVANCE
vaishali K (59 Points)
05 November 2018
Is GST applicable on advance receives? Is there any Turnover limit?
vaishali K (59 Points)
05 November 2018
Piyush Tanwar
(Assistant Manager - Accounts)
(1432 Points)
Replied 05 November 2018
If you are registered under GST, then you have to pay GST on advances received i.e. in case Advance received in the tax period and bill for the same is not raised in that tax period.
Thanks & Regards
Piyush Tanwar
9717468521
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 05 November 2018
As per notifiction 66/ 2017 dt 15/11/22017 advance payment received in case of supply of Goods GST is exempt , If you are providing service then GST applicable on advance received against providing service .
prasad Nilugal
( GST Practitioner & Accounts )
(14165 Points)
Replied 05 November 2018
please confirm my above reply
vaishali K
(59 Points)
Replied 05 November 2018
saurabh sawlani
(2157 Points)
Replied 05 November 2018
CA Monika Motta
(Partner)
(1219 Points)
Replied 05 November 2018
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