Whether Gst to be collected at the time of advance received?
any notification there gst not applicable at the time of advance received?
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Gst on advance received
Replies (3)
https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-40-cgst-english.pdf;jsessionid=0CE40FC2D816898F87DD479690C7B2D6
https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-66-central-tax-english.pdf;jsessionid=B4B78BE22E2872D20FF299A6D893F985
Advance towards supply of Services , GST attracts.
Advance towards supply of Goods , No GST Attracts (As per Noti. 40/2017 CT)
Note : For Composit Taxpayer, GST is applicable on Advance for Goods
Advance towards supply of Goods , No GST Attracts (As per Noti. 40/2017 CT)
Note : For Composit Taxpayer, GST is applicable on Advance for Goods
Yes... I agreed to Mr Pankaj Rawat.,
@ DINESH.,
If You are received advance against supply of Service as per above reply...
In case You supply same month which is advance received then You don't pay Gst for the advance receipt. Just you can file as per Your transactions...
But,
If You supply next month then you must pay tax for the Advance...
@ DINESH.,
If You are received advance against supply of Service as per above reply...
In case You supply same month which is advance received then You don't pay Gst for the advance receipt. Just you can file as per Your transactions...
But,
If You supply next month then you must pay tax for the Advance...
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