Gst on advance payment for goods
is Gst on advance payment for goods is paid or no. 66/2017 is applicable Gst on advance payment is exempted
Replies (3)
Quick Summary
Currently, gst on advance payment for goods is exempted
This means that if the advance is received before the issue of the invoice the time of supply would be the date of receipt of advance. Thus taxpayers receiving advance must pay GST on the money received. *Note: For the supply of goods advance received is not subject to GST.
Yes, it will
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