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TMI BlogAdvance receivedX X X X Extracts X X X X X X X X Extracts X X X X ..... Advance received X X X X Extracts X X X X X X X X Extracts X X X X ..... t, he has to pay GST if the supply is not made in the same month of receipt. Now the question is: I receive cash ₹ 50,000.00 advance for a product with a GST of 18%. Whether I should pay GST for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 50,000.00 or should i split the turnover by reverse working and tax to be paid for ₹ 42,373.00. What the relevant CGST/SGST provision says? Earlier in Service Tax regime, when advance a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount is received we used to pay for full value of ₹ 50K. Thanks Reply By Mayuri Shete: The Reply: when we have received advance, we have done reverse calculation of advance recd for GST liab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ility, submitted advance receipt voucher to client indicating GST details. Reply By Ganeshan Kalyani: The Reply: I have read in twitter question and answer. It was mentioned that GST on advance to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be worked out by inclusive method. That is you will have to pay GST within the advance amount received. Thanks.
Reply By Himansu Sekhar:
The Reply:
It is the cum tax value. X X X X Extracts X X X X X X X X Extracts X X X X ..... nowledge Sharing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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