Dear Friends, please help me understand how GST will be collected on advance with the following example. (pls give the journal entry).
Advance- 100
Amount received- 90
TDS under income tax- 10
Applicable GST rate- 18%
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177721 Points)
Replied 25 December 2017
Though GST over advances over goods supply has been deferred till March, 2018; but for calculation purpose it is over Rs. 100/- i.e. Rs. 18/-
manisha
(cs)
(1118 Points)
Replied 25 December 2017
GST On advance has not been deferred Rcm has been deferred from URD purchase
Gst on good not liable advance tax under gst
Gst on supply of services advance tax applicable
Gst on good not liable advance tax under gst
Gst on supply of services advance tax applicable
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