Dear all.
We have business of sugar boiled confectionery.
Always advance payment receive from party then in a month invoice generate.
Bt this tym payment received from party. 50% advance received then 50% will receive in January month so we have to pay gst on advance.
Pls reply
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Advance received from customer
Replies (20)
Yes. GST shall be payable on Advance
yes, on advance gst will be payable as per defination of consideration it covers your query's situation.
Ok. Thank you sir
no tax on advance after 15.11.17
Mr Kamlesh is right. the requirement of Payment of GST on Advance received from customers has been removed vide notification no. 66/2017-Central Tax dt. 15 Nov. 2017. This relaxation is applicable only on advance received post 15 Nov. 2017...
but but only advance received against goods are removed but against service you have to pay on advance
Manufacturer of Confectionery Products - Sugar Boiled Confectionery , if it is manufactuering product then no tax advance .
Ok sir. Ty
Yes... I agreed with Mr. Prasad Nilugal.,
Also GST on Advance applicable only for supply of Services. It's effected from 15/11/2017.
GST not applicable if supply of Goods from 15/11/2017...
Tysm all.
No tax applicable on advance receipt after 15 november
| Originally posted by : Ashwani Pandey | ||
 |
No tax applicable on advance receipt after 15 november |  |
Are you sure....?
Have any evidence....?
Please Read Notification No. 38/2017-Central Tax (Rate) ,dt. 13-10-2017.
| Originally posted by : Ashwani K Pandey | ||
|
Please Read Notification No. 38/2017-Central Tax (Rate) ,dt. 13-10-2017. | |
Very Nice Work BRO...
But,
What is inside the notification...? Are you read only Not: 38/2017...?
Please read these following
***sub-section (1) of section 11 of the Central Goods and Services Tax Act, 2017 (12 of 2017).
***No.8/2017- Central Tax (Rate), dated the 28th June, 2017.
***Part II, Section 3, Sub-section (i), vide number G.S.R. 680(E), dated the 28th June, 2017.
https://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-40-cgst-english.pdf
https://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-66-central-tax-english.pdf
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