advance received
Sanjeev Bothra (18 Points)
30 August 2017
If I receive advance against order how it will be treated.Do I have to GST on Advance received.
3 Replies
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 30 August 2017
GST applicable for advance receipts. Which tax rate is the goods/services then the tax amount ll be calculate including the advance amount. After you ll be pay the tax on transaction date.
After supply fullfill then you can get reverse the advance tax value in the particular invoice. Also you ll be notified in the advance and tax amount in invoice....
After supply fullfill then you can get reverse the advance tax value in the particular invoice. Also you ll be notified in the advance and tax amount in invoice....
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