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Sale of old vehicle


Ramya Bhat   06 April 2021

Ramya Bhat

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its a partnership firm

here they have sold a old car and they have received the advance amount..
but they have not raised the invoice...
so here in this case on the advance received gst applicable
Ankit Neema

Ankit Neema   06 April 2021

Ankit Neema

 34 likes  734 points

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Yes GST is applicable on Advance received
Ramya Bhat

Ramya Bhat   06 April 2021

Ramya Bhat

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On the advance aplicable at 18 perecent
Sourav

Sourav (Student)     06 April 2021

Sourav
Student 
 516 likes  8461 points

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Yes GST is applicable on advance amount
Amit

Amit (Accounts )     06 April 2021

Amit
Accounts  
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Is GST still applicable on advance ?
Mujeeb Doi

Mujeeb Doi   06 April 2021

Mujeeb Doi

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Date of Advance received as time of supply(TOS) is applicable only in case of services and hence, TOS in this case will be earlier of date of Invoice or Date of removal of car
Amit

Amit (Accounts )     06 April 2021

Amit
Accounts  
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Thanks
Ramya Bhat

Ramya Bhat   06 April 2021

Ramya Bhat

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So on the advance received on old vehicle that we are selling we have to deduct TDS on advance at 18 percent.....
Mujeeb Doi

Mujeeb Doi   06 April 2021

Mujeeb Doi

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No, there is no liability to deduct any TDS under GST law
Ramya Bhat

Ramya Bhat   06 April 2021

Ramya Bhat

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Sry by mistake it happened..gst to be paid reight...

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