For advance received
Bipin Kumar (54 Points)
16 March 2021
do we have to pay gst on advance received
3 Replies
kartik agrawal
(2 Points)
Replied 16 March 2021
For the supply of goods, advance is not subject to GST. But if it is for supply of service, then it is subject to GST. Supplier has to issue the receipt voucher and pay GST on advance. Calculate GST taking the advance received inclusive of GST.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 16 March 2021
Yes if it is for supply of Service. else no GST applicable on advance received for supply Goods
CA Altamush Zafar
(GST Consultant)
(15971 Points)
Replied 16 March 2021
Gst on advance only applicable for services. For goods gst applicable only when invoice is issued or is due to be issued
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