TMI BlogGST on Advance received from CustomerX X X X Extracts X X X X X X X X Extracts X X X X ..... Our company received advance against services Advanced received 9,80,000/- Tds 2% recovered 20,000/- Above case we have to pay gst on 9,80,0000(980000*18/118=149492) or 10,00,000( 1000000*18/118=152543) Please advice me Thanks in advance - Reply By Ganeshan Kalyani - The Reply = on ₹ 10 lacs. - Reply By MARIAPPAN GOVINDARAJAN - The Reply = GST is to be leviable on ₹ 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,00,000/- - Reply By Ravikumar muthusamy - The Reply = is GST payable on advance also? - Reply By Ganeshan Kalyani - The Reply = on service- - yes on goods - no. - Reply By Ravikumar muthusamy - The Reply = I request reconfirmation of gst liability on advances received for services too. - Reply By Ganeshan Kalyani - The Reply = already replied sir. tax is payable on receipt of advance ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst service by the service provider. thanks . - Reply By rajkumar shukla - The Reply = As per section 2(31) of cgst , a deposit given in respect of supply of goods and services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for such supply. Thus advances which are appropriated will be considered as supply and consequ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ently gst is payable. - Reply By Praveen Nair - The Reply = Advance Payment: As per the provisions of Section 31(3)(d), read with Section 12(2)(b) of the CGST Act, 2017 as applicable to SGST, UTGST IGST Act, 2017, receipt of Advance payment, attracts Tax, at appropriate rate, the hands of the Supplier (Forward Charge) or Recipient (Reverse Charge) of Goods or Services or both. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Notification No. 66/2017-Central Tax dtd. 15.11.2017 for the time being has kept the GST applicability on Advance at Abeyance on Supply of Goods Services upto 31.03.2018 and accordingly, when Advance Payment is received by the Supplier of Services (where tax is payable under Forward charge) or such Advance Payment is made by the Recipient of Services (where tax is payable under Reverse Charge) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Advance payment would Not attract Tax under GST Law, in respect of Supply of Goods or Services. - Reply By rajkumar shukla - The Reply = Yes.post poned but does it apply to services as well? and postponed upto 31.03.18 sure? - GST on Advance received from Customer - Query Started By: - raja raja Dated:- 20-2-2018 Goods and Services Tax - GST - Got 9 Replies - GST - Discussion Forum - Knowl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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