Gst
This query is : Open
18 November 2017
Whether GST is payable on advance received. ? In earlier Service tax regime even on advance, tax was to be paid
18 November 2017
On 15-11-2017, the government has exempted businesses from deducting GST on advances received for supplying goods in future. However, service providers will have to continue to deduct GST on any advance received as payment, in line with the provisions under erstwhile service tax laws.
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