Gst on advance payment recived

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133 Points Posted on 12 March 2020
is it gst applicable on advance payment recived ?
if yes what is calculation?
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On 12 March 2020 at 15:23 Report
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This discussion clarifies whether Goods and Services Tax (GST) is applicable on advance payments received for services. It confirms that GST is indeed applicable and provides guidance on the calculation method. The focus is particularly on the hospitality industry and addresses situations where a contract or sale might be cancelled after GST has been paid on an advance.

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GST Practitioner
55067 Points Posted on 12 March 2020
Only on supply services.
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On 12 March 2020 at 23:42
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133 Points Posted on 13 March 2020
For hospitality industries
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On 13 March 2020 at 10:30
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Tax Consultant
3088 Points Posted on 16 May 2020

https://ckbajpai.com/2020/05/16/what-t-do-when-gst-paid-on-advance-amount-received-but-contract-or-sale-get-cancelled-for-any-reason/   

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On 16 May 2020 at 16:24

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