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advance from customer
what is th now if we receivee rule as of advance from customer for supply of goods.
Replies (2)
No GST is applicable on advance for goods.
Has been deferred by Notification 40/2017 CT
Has been deferred by Notification 40/2017 CT
time of supply is to be decided as per section 12(2)(a) for supply of goods.
as per this time pf supply will be decided as per invoice date.
so if advance payment is received for supply of goods then it will not be liable for GST.
as per this time pf supply will be decided as per invoice date.
so if advance payment is received for supply of goods then it will not be liable for GST.
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