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Advance received from customer

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2014 advance received for sale of Goods is liable to vat.please reply this question
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Deepti Asawa

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Deepti Asawa (Expert)
27 June 2014 No,Vat not payable on advance receipts. Vat payable when Vat invoice raise and goods sold.
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 June 2014 Deepti Asawa ji thanks for immediately answer for this question.
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Vishnu Saboo

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Vishnu Saboo (Expert)
30 June 2014 VAT is to be payable only when material is moved.

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