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gst on advance payment to supplier
dear sir, my question is what would be the gst impact on the advance payment for both parties.
Replies (2)
receipt of advance is liable to gst.
such advance shall be liable to gst @ 18% in case no rate can be determined at the time of advance
such advance shall be liable to gst @ 18% in case no rate can be determined at the time of advance
is there any gst entry to be passed in the books who making the payment.
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