Sale of old vehicle

Ankit Neema

2742 Points Posted on 06 April 2021

Yes GST is applicable on Advance received

Ramya Bhat

254 Points Posted on 06 April 2021

On the advance aplicable at 18 perecent

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 06 April 2021

Yes GST is applicable on advance amount

Amit

Accounts

528 Points Posted on 06 April 2021

Is GST still applicable on advance ?

Mujeeb Doi

309 Points Posted on 06 April 2021

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

Accounts

528 Points Posted on 06 April 2021

Thanks

Ramya Bhat

254 Points Posted on 06 April 2021

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

Mujeeb Doi

309 Points Posted on 06 April 2021

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

Ramya Bhat

254 Points Posted on 06 April 2021

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

Amit

Accounts

528 Points Posted on 06 April 2021

Advance received in case of goods avi exempt kiya hua h

Pankaj Rawat

GST Practitioner

55067 Points Posted on 08 April 2021

The provision of GST on advance for GOODS being put in abeyance by Notification 40,66/2017 both are of CT .
So no GST applicable on advance for supply of Goods