Tax Management India. Com
                            Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Manuals SMS News Articles Highlights
Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

GST on Advance received from Customer, Goods and Services Tax - GST

Issue Id: - 113422
Dated: 20-2-2018
By:- raja raja
GST on Advance received from Customer

  • Contents

Our company received advance against services

Advanced received 9,80,000/-

Tds 2% recovered 20,000/-

Above case we have to pay gst on 9,80,0000(980000*18/118=149492) or 10,00,000( 1000000*18/118=152543)

Please advice me

Thanks in advance

Post Reply

Posts / Replies

Showing Replies 1 to 9 of 9 Records

1 Dated: 20-2-2018
By:- Ganeshan Kalyani

on ₹ 10 lacs.

2 Dated: 21-2-2018

GST is to be leviable on ₹ 10,00,000/-

3 Dated: 23-2-2018
By:- Ravikumar muthusamy

is GST payable on advance also?

4 Dated: 23-2-2018
By:- Ganeshan Kalyani

on service- - yes

on goods - no.

5 Dated: 24-2-2018
By:- Ravikumar muthusamy

I request reconfirmation of gst liability on advances received for services too.

6 Dated: 26-2-2018
By:- Ganeshan Kalyani

already replied sir. tax is payable on receipt of advance against service by the service provider. thanks .

7 Dated: 27-2-2018
By:- rajkumar shukla

As per section 2(31) of cgst, a deposit given in respect of supply of goods and services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for such supply. Thus advances which are appropriated will be considered as supply and consequently gst is payable.

8 Dated: 8-3-2018
By:- Praveen Nair

Advance Payment:

As per the provisions of Section 31(3)(d), read with Section 12(2)(b) of the CGST Act, 2017 as applicable to SGST, UTGST & IGST Act, 2017, receipt of Advance payment, attracts Tax, at appropriate rate, the hands of the Supplier (Forward Charge) or Recipient (Reverse Charge) of Goods or Services or both.

Notification No. 66/2017-Central Tax dtd. 15.11.2017 for the time being has kept the GST applicability on Advance at Abeyance on Supply of Goods & Services upto 31.03.2018 and accordingly, when Advance Payment is received by the Supplier of Services (where tax is payable under Forward charge) or such Advance Payment is made by the Recipient of Services (where tax is payable under Reverse Charge), Advance payment would Not attract Tax under GST Law, in respect of Supply of Goods or Services.

9 Dated: 8-3-2018
By:- rajkumar shukla poned but does it apply to services as well? and postponed upto 31.03.18 sure?


Post Reply

← Previous Next →
Discussion Forum
what is new what is new

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.