GST LIABILITY AGAINST ADVANCE RECEIVED FROM CUSTOMERS

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..... GST LIABILITY AGAINST ADVANCE RECEIVED FROM CUSTOMERS
Query (Issue) Started By: - SURYAKANT MITHBAVKAR Dated:- 14-10-2017 Last Reply Date:- 16-10-2017 Goods and Services Tax - GST
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GST
Can we adjust GST Liability on advance received from customers against ITC available during the month or we have to make cash payment only like RCM. Reply By Rajagopalan Ranganathan: The R .....

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..... eply: Sir, You can adjust GST Liability on advance received from customers against ITC available during the month. There is no prohibition against such adjustment in CGST Act, 2017. Reply By KASTUR .....

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..... I SETHI: The Reply: Yes. Undoubtedly you can. Reply By MARIAPPAN GOVINDARAJAN: The Reply: You have to issue a bill incorporating the value of transaction with GST and then you adjust the advance pa .....

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..... yment made and GST in the invoice.
Discussion Forum - Knowledge Sharing .....

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