Gst on advance payment for goods

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mudit gupta

330 Points Joined May 2012

is Gst on advance payment for goods is paid or no. 66/2017 is applicable Gst on advance payment is exempted

Replies (3)

Ankita Jain

CA in practice

185 Points Joined January 2019

Currently, gst on advance payment for goods is exempted

debora M

BUSINESS DEVELOPMENT MANAGER

1697 Points Joined February 2019

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.