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tax on advance payment received
pl explain of notification no 66
Replies (3)
This is exemptions regarding tax on advance recived from customer but I am also know that this exemption available on intra state or inter state or both.
| Originally posted by : VIKAS SAINI | ||
 |
This is exemptions regarding tax on advance recived from customer but I am also know that this exemption available on intra state or inter state or both. |  |
Yes you are right......
It applies to all advances received.
section 66 allows for non payment of tax on advances for supply of goods both inter state as well as Intra state.
But for service you have to pay tax on service
But for service you have to pay tax on service
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