Please inform me whether GST on advance received or paid after 15-11-2017 is liable to charge GST?
Mahesh Shaha (303 Points)
18 January 2018Please inform me whether GST on advance received or paid after 15-11-2017 is liable to charge GST?
Amarjeet jasiwal
(student)
(147 Points)
Replied 18 January 2018
RAMESH KUMAR SINGLA
(PROFESSIONAL)
(1777 Points)
Replied 18 January 2018
Advance received is also part of consideration for supply of goods/services and therefore liable to tax. However, now the liability to pay GST on advance has been deferred till invoice is raised for supply of goods or services. There is no need to raise special invoice to pay the GST only with regard to advance amount.
Amarjeet jasiwal
(student)
(147 Points)
Replied 18 January 2018
RAMESH KUMAR SINGLA
(PROFESSIONAL)
(1777 Points)
Replied 18 January 2018
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