we have recd an adv pymt in the month of May'18. Sales bill not yet generated even material is also under process.
in such condition wether v have to pay GST on adv recd.
State : Maharashtra
Menu
GST on advance recd.
Replies (2)
There is no GST at the time of receipt of advance. You need to pay tax at the time of issue of tax invoice for supply of goods.
Tax invoice has to be issued before or at the time of clearing goods from your place to customer place.
👍👍👍
Recent Topic
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
- EPF Withdrawal taxation
- While e filing otp not generating
Related Topics
CAclubindia
