Poonawalla fincorps
Poonawalla fincorps

Gst on advances

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 October 2017 Dear Experts,

We are registered under GST having turnover of more than 1.5 Cr.

We have received advance through credit card. Is it compulsory to pay GST at the time of receipt?

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Udaya Chandran

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Udaya Chandran (Expert)
07 October 2017 Yes. GST for the amount received to be paid.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 October 2017 Suppose customer swipe 10000/- but we have recd Rs. 9800/- after deduction of cc charges then how to account?
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Udaya Chandran

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Udaya Chandran (Expert)
07 October 2017 You can pay GST for the amount received of Rs.9800/- in your account.

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