Time of supply when part payment received in advance

Date of dispatch of the goods, or bill date whichever earlier.

To the extend of advance received, time of supply shall be date of receipt of advance.

time of supply shall be the date on which the advance is received... and the amount shall be the amount of advance
AND tax payable on advance upto Rs. 1000 can be paid on issue of invoice.

Good question. 

Please read the defintion of consideration and understand the differecne between advance / deposit.

If what you are reciveing is an advance- then GST payable by supplier on receipt of the advance say in your case 50 x 18% = 9

When you supply goods/ services of say 40 then gst payable would be 3.60 . At this point 50% already paid maybe adjusted - 1.80= Amount payable would be 1.80.

Important that recipeint would get credit for 3.60 only on receipt of supply.

 

 

 

thanks to all for your valuable reply. But again the question arises, will not this create confusion, when invoice is raised. for e.g rs 50000/- recd advance and gst paid on that as per rules. invoice is raised after 6 months for rs 350000/- since tax has already been paid on 50000/- earlier.how will it be shown in the invoice

REF. SECTION 28 OG GST.

THE TIME OF SUPPLY OF GOODS SHALL BE THE EARLIER OF THE FOLLOWING DATES, NAMELY A) THE DATE OF ISSUE OF OF INVOICE BY THE SUPPLIER OR THE LAST DATE ON WHICH HE IS REQUIRED TO ISSUE THE WITH RESPECT TO THE SUPPLY UNDER SECTION 28

B) THE DATE ON WHICH THE SUPPLIER RECEIVES THE PAYMENT WITH RESPECT TO THE SUPPLY.

1)WHEN ADVANCE IS RECEIVED, YOU NEED TO PAY GST ON SUCH ADVANCE RECEIVED. SUPPLY WILL BE SAY AFTER 45 DAYS.

2) INVOICE WIL SHOW FULL TAX PAYABLE. WHILE PAYING TAX, YOU WILL HAVE TO DEDUCT TAX PAID EARLIER ON ADVANCE RECEIVED AND NET TAX WILL BE PAID.

3) NO INPUT TAX CREDIT ON GST PAID ON ADVANCE RECCEIVED FROM THE BUYER.

Is it possible to pay GST after payment is received from the buyer...because customer pays as when he feels to make payment

if instead of Advance against order, we take as deposit what will happen.

If advance received against order than also you need to pay the GST which can be adjusted in the final invoice