GST on advance is suspend for all

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dear sir
kindly advice me

gst on advance received is suspend for all company ?

Replies (7)

YES.......... 

Initially, notification no. 40/2017-Central Tax dated 13 October, 2017 was issued to remove the requirement of payment of GST on advance receipts towards supply of goods, for persons having turnover of less than INR 15 million in a year. Vide Notification no. 66/2017- Central Tax dated 15 November, 2017, this relaxation has been extended to all persons, except persons opting to pay GST under composition scheme. It should be noted that this relaxation is applicable only on the advances received post 15 November, 2017 for supply of goods. Post this notification, the time of supply for goods would be the date of issue of invoice by the supplier.

I think  supply of service  its continue  please confirm 

yes GsT on advance received suspended under Notification No.66/2017 dt.15/11/2017 for all assessee except person opting for composition Scheme.
whether is turnover morthrn 1.5 crore
Please confirm this exemption up to March 18or life time
GST is applicable if Advance received for supply of Services..
Dear Dhirajlal sir

Notification 66/2017 supersedes the notification 40/2017, and states that advance received is not liable for GST only for the supply of goods. However advance received on account of supply of services will be liable. This notification superseded notification 40/2017, hence the advance received by the supplier who turnover is below 1.5 cr does not applicable. Finally irrespective of the turnover is advance received for the supply of goods is not liable to tax and advance for supply of services is liable to GST


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