Will gst attract?
I'm a sole proprietorship and having a gst registration..if I get any advance amount do I need to pay gst on it??if any income I receive should I collect gst.?
Replies (5)
Quick Summary
No need to pay gst on advance amount received
If u r providing services, than any amount u get in form of advance, on such advance u have to pay gst.
Gst is applicable on advance amount
Gst is applicable on advance for service and not on advance for goods
It would be preferred to collect gst on any recovery to avoid litigation in future
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