i have received advance payment from customer i m register person in gst. i m eligible gst liability.
received payment in july
i will give bill in august.
muze gst pay karana padega ka.
4 Replies
SANTOSH MANCHALA
(CA)
(78 Points)
Replied 04 August 2017
As per GST act, liability to pay to tax arises
1.date of invoice or
2. date of advance received
whichever is earlier
therefore u need to pay GST on advances received
1.date of invoice or
2. date of advance received
whichever is earlier
therefore u need to pay GST on advances received
kumar hattanna
(Officer - Excise)
(525 Points)
Replied 04 August 2017
yes your GST liability arises in the month July itself
SANTOSH MANCHALA
(CA)
(78 Points)
Replied 04 August 2017
and u need to issue advance receipt voucher with containing of GST details
Rohit Bhatia
(Accounts Service)
(331 Points)
Replied 04 August 2017
if case in letter of bond and advance received from direct customer from forighner
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