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GST on advance received towards taxable supplies
pl let me know whether Gst is applicable on advance amount received towards supply of taxable supplies later on.
Replies (6)
No if it's supply of goods...
If it is a supply of goods you must liable to pay GST on advance
otherwise no such GST liability on advance
GST not applicable on Advance against Supply of Goods...
| Originally posted by : Sarath Rajendran | ||
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If it is a supply of service you must liable to pay GST on advance otherwise no such GST liability on advance |
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அவசரமா, இல்லை வேகமா பா
advance received against goods are not taxable
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