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GST ON ADVANCE
Is GST applicable on advance receives? Is there any Turnover limit?
Replies (6)
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
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 .
please confirm my above reply
I am asking about advance recd agst services provided. Is there any maximum bill amt on which GST is mandatory?
yes,vaishali gst is applicable for advance rced against service provided!!
there is nothing like maximum. if u receive any advance towards supply of service then GST is applicable
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