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GST applicability on pending advance recd from client as on june17

12 September 2017

some advane i have received before July that is under service taxof
regime and i have not paid any service tax on advance as it is received for exemted Govt project As on june 30 i have some amount unrecovered advance pending . pl advise me whether the pending advance attracts GST as the particular project is taxable now under GST

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4 Replies

K. Jagan Mohan (CMA) (53 Points)
Replied 12 September 2017

however i have discharged GST for advance recd after July 1st

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Deepak Kashyap Delhi (16 Points)
Replied 12 September 2017

Advance Pre-GST is not considerable under GST. Advance provision is applicable on or after 1 July 17

CA Shashikumar PN (Consultant - Taxation) (264 Points)
Replied 12 September 2017

On advances received under ST regime the provisions of ST is applicable. in your case since the advances are received in ST regime where there is no levy of ST on the activity as mentioned by you and you are forfeiting such advance now under GST regime where it is a taxable activity, in my view since the levy has attracted under ST regime and accordingly forfeiture of advance is not liable to GST.