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Gst on advance payment?

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Should we pay GST on advance payment received for sales of goods ??

Replies (8)
yes ......

Yes according to government FAQ you need to provide GST on advance payments

Yes we have to provide for GST on advance payments received. However, GST has to be paid only when actual payments are made.
Yes we have to provide for GST on advance payments received. However, GST has to be paid only when actual payments are made.
Yes we have to provide for GST on advance payments received. However, GST has to be paid only when actual payments are made.
Dear Priti
I suppose you have some misconception when you say GST is to be paid when one receives actual payment. Advance payment is part payment of total supplies. If you are of the opinion that GST is required to be paid once supply is made and total payment is received, in my opinion it is not true. At the time when Pravin Jain of receipt of advance you are to receive GST on it at the applicable rate from the buyer. It is to be deposited soon.
After making supply and raising Invoice balance GST is to be paid.
Money will be blocked until supply is complete. So special care is needs by supplier & recipient in this regard in GST regime.

If advance received on 04.08.17 & goods supplied on 10.08.17 then ??? 
Should we pay GST on advance ?

There is no clarity in this matter. But it is  better to make payment of GST on advance recived to avoid any clash with department .Make adjustmet at the filing of return


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