dear expert
kindly inform me gst advance tax applicable if exceed payment received from debtor
company turnover more than 7 crore
Menu
Exceed payment liable for adv gst tax
Replies (5)
Yes if its reced against supply of Services .
No it is supply of goids
Then needs to charge gst on same .
NOT E : As per section 13 .of CGST. act , if advance is below 1000/- then its on supplier , .whether to charge GST or to adjust against next invoice .
Only services advance payment liable gst
In Nov 2017 gov has inform to 19 product of seller hv to paid gst against excced payment received from customers
Recent Threads
- Free GST Reconciliation Tool in Google Sheets R
- NRI return after due date refund case
- TDS u/s 194J - training honorarium
- WHERE TO REGISTER UNDER PTRC AND PTEC ACTS ?
- Key Corporate Compliance Requirements for Private
- Gst Non Filling Return Notice
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
Related Threads
CAclubindia
