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
Sale of old vehicle
Replies (11)
Quick Summary
Yes GST is applicable on Advance received
On the advance aplicable at 18 perecent
Yes GST is applicable on advance amount
Is GST still applicable on advance ?
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
Thanks
So on the advance received on old vehicle that we are selling we have to deduct TDS on advance at 18 percent.....
No, there is no liability to deduct any TDS under GST law
Sry by mistake it happened..gst to be paid reight...
Advance received in case of goods avi exempt kiya hua h
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
So no GST applicable on advance for supply of Goods
Recent Topics :
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
Related Topics :
CAclubindia
