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GST on Advance received from Customer

Goods and Services Tax - Started By: - GOPAL CHOWDHURY - Dated:- 17-11-2017 Last Replied Date:- 22-11-2017 - Dear all, As Ministry has issued Notification No.66/2017-CT dated.15.11.2017 and I have seen here it was issued granting exemption for GST on advances received by the tax payers on goods not on service who not availed for composition scheme. In this regard can any one kindly clarify me the Notification as I still can't understand is the notification issued for the tax payers to charge .....

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in case of supply of goods - Reply By Ganeshan Kalyani - The Reply = Relaxation from payment of GST on advances received shall be restricted only for supply of goods. Advance received for supply of services shall continue to be taxable.Further, issue of advance receipt voucher/ refund voucher shall still continue for goods as well as services, irrespective of aforesaid clarification. - Reply By Ganeshan Kalyani - The Reply = No GST on advance received against supply of goods wef 15/11/17. - Repl .....

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ier or the last date on which he is required, under sub-section (1) of section 31, to issue the invoice with respect to the supply or (b)... Provided sub-section (1) of section 31 states as follows: (i) A registered person supplying taxable goods shall, before ot at the time of,- (a) removal of goods for supply to the recipient, where the supply involves movement of goods; or (b)delivery of goods or making available thereof to the recipient, in any other case, issue a tax invoice showing the des .....

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f goods or services. So from the provision of the notification above in my understanding it provides for the invoicing of tax invoices of 177 items which rate of tax has been changed on 23rd meeting of the GST council. As notification has been passed in this regard the new rates has been notified so those who has taken advances in this regard or supplied goods and payment is yet to be received, what rate will be applicable was provided under section 14. Further the provision of sections referred .....

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section of section 31 as referred by me above. If I am wrong in understanding the notification, kindly let me know with relevant provisions in this regard as no such news comes out from CBEC or GST council that they exempt all the advances from GST yet. Please let me know. THANKS. - Reply By Ganeshan Kalyani - The Reply = Sri Gopal Sir, Notification 66/2017-CT states that the registered person (other than composition dealer) shall pay the central tax on the outward supply of goods at the time of .....

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nly when the invoice is issued or the last date on which he is required to issue the invoice. Thus, it implies that tax is not required to be paid on receipt of advance from the customer. - Reply By CS SANJAY MALHOTRA - The Reply = Sh Ganeshan ji,I could have reverted on same but was waiting for your final comments which are exactly the same as I thought of.No need to interfere in your well placed reply. Acceptance / Rejection is always with the querist. - Reply By Ganeshan Kalyani - The Reply = .....

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