GST Provisions compliance

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34 Points Posted on 03 May 2023
If we are paying advance to supplier for setting up our factory.
Do we need to comply any provision of GST on advance payment??
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On 03 May 2023 at 00:00 Report
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Quick Summary
When making an advance payment to a supplier for factory setup, the buyer generally has no GST compliance obligations. GST typically applies to the supplier when they receive an advance payment specifically for services.

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Practicing in GST and MSME
1985 Points Posted on 03 May 2023
No GST compliance for buyer for advance payment to supplier.
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On 03 May 2023 at 03:29
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GST Practitioner
55067 Points Posted on 04 May 2023
No there is no GST on payment of advance. Yes GST attracts on advance received against supply of services.
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On 04 May 2023 at 00:25

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