Home Forum Goods and Services Tax - GST Month 12 2017 2017 (12) This
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Fate of services tax paid on advance received from customer under GST - Goods and Services Tax - GSTExtract Dear Expert, Need your help on below mentioned issued under GST. Brief facts and query is as under: The company is in business of project construction since year 2015. It has received mobilization advance of Rs. say 10 Crore in January 2017 ( before GST regime) and on which it paid service tax as per the applicable rate. Now under GST regime the company will raise invoice and willing to set off its GST liability with earlier service tax, which has been paid advance received. With the above mentioned background, my query is as under: whether service tax paid on advance received from clients can be set off with GST liability ? if yes, then how and where this advance amount need to show in Trans-01 ?
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