GST ON ADVANCE RECIEPTS

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..... GST ON ADVANCE RECIEPTS
Query (Issue) Started By: - OM PRAKASH Dated:- 12-12-2017 Last Reply Date:- 13-12-2017 Goods and Services Tax - GST
Got 3 Replies
GST
PLEASE UPDATE ......IT IS NEC .....

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..... ESSARY TO DEPOSITED TAX ON ADVANCE PAYMENT Reply By Somil Bhansali: The Reply: In case of supply of service ,supplier is liable to pay tax on the amount of advance is received.However in case of su .....

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..... pply of goods ,supplier is not required to pay tax on amount of advance received. Reply By PAWAN KUMAR: The Reply: Dear Sir, as per my view, no need to pay tax on advance receipt in case of goods, .....

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..... however in case of services tax is to be paid. Reply By Ganeshan Kalyani: The Reply: GST on advance against goods is not liable to be paid vide Notification No. 66/2017 - Central Tax. GST is payabl .....

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..... e by the supplier is he receives advance payment.
Discussion Forum - Knowledge Sharing .....

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