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Up to 1000
Provided that where the supplier of taxable service receives an amount up to one thousand rupees in excess of the amount indicated in the tax invoice. Means.
Replies (2)
Any amount received in excess of invoice upto Rs. 1000/- shall be adjusted with the next invoice. Hence GST shall also be levied on raising of the next invoice.
If Advance is received upto Rs 1000/- it is at the option of the receiver of the payment to treat taxable event at the time of raising invoice which is later on. Otherwise normal provision say that If you get advance, it is a taxable event and yu will have to deposit GST on it.
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