kindly clarify
is the tax should be paid on advances or after raise the invoice
one of the CA is telling upto 6 months u can take advance no need to pay tax on that but after 6 months u have to raise invoice.and to pay on whole
gst on advances
Replies (3)
For supply of Goods Gst on Advance is exempt under notification 66(C.T) 2017 / dated 15/11/2017 from 15/11/2017, However if you are providing services then GST applicable on Advance received
please refer notification 66 , and confirm with others also,
we are in works contractor .both goods & services will applicable.in that case have to pay the tax on receipt. of advance ?
Yes You are Liable to Pay GST on Advance Receipt.
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