Sir,
If I, received the advance on september 2017 then
it is necessary to pay the gst in October 2017?
Suppose it is not paid in October then it is penalty Plz. inform me whether the GST paid on advance received in sept 17
Rakesh Torgalkar (4 Points)
15 October 2017Sir,
If I, received the advance on september 2017 then
it is necessary to pay the gst in October 2017?
Suppose it is not paid in October then it is penalty Plz. inform me whether the GST paid on advance received in sept 17
CA Naman Garg
(Practicing CA)
(86 Points)
Replied 17 October 2017
yes you are required to pay GST on advance recieved for the m/o september.
however, from the month of october this provision is postponed for the goods(Not for service provider) in case of assessee having turnover less than 1.5cr.
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