My query I procurement the material from our supplier and I paid advance payment to our supplier and showing the debit balance 31st March 2020 .
these condition GST liability on advance to us or supplier .
thanking you
Hatinder Kumar
9218623605
Menu
Advance payment to supplier
Replies (1)
No GST Applicable on Advance pay to Supplier for the Supply of GOODS.
Note :
As per Notification 40/2017 CT , DTD. 13/10/2017 no gst on adavance against Goods ,for Tax payer having Agrregate turnover less 1.5 crore , This facility was extended to all registered person without any threshold limit vide Notification 66/2017 CT dtd 15/11/2017
So the same has been deferred.
Note :
As per Notification 40/2017 CT , DTD. 13/10/2017 no gst on adavance against Goods ,for Tax payer having Agrregate turnover less 1.5 crore , This facility was extended to all registered person without any threshold limit vide Notification 66/2017 CT dtd 15/11/2017
So the same has been deferred.
Recent Threads
- How to Increase Website Traffic Effectively
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
Related Threads
CAclubindia
