Advance received

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accountant
101 Points Joined September 2016
our firm is manufacturing & supply clamps to customer. they may pay advance to me. that can use in same month or may be next month. in these case we need to pay tax on advance ? or no ..pls guide ..
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On 02 May 2018 at 18:31 Report
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SEO Sai Gr. Hosp.
210651 Points Joined July 2016

For the supply of goods advance received is not subject to GST.

(Notification no. 66/2017 dated 15.11.2017)

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On 02 May 2018 at 18:32
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student
73 Points Joined July 2014
dhirajlal sir there is a limit for that i.e. 1
.5 cr turnover and assessee not opt for composition scheme
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On 03 May 2018 at 06:44
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accountant
101 Points Joined September 2016
our turn over is more than 1.5 Cr.
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On 03 May 2018 at 08:38


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