whether GST on advanced received by composite dealer need to pay ?????
11 Replies
Rohit Tibrewal
(Student & Senior Accountant)
(3193 Points)
Replied 10 September 2018
G.S.R. (E):— In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereafter in this notification referred to as the said Act) and in supercession of notification No. 40/2017-Central Tax, dated the 13th October, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R.1254(E), dated the 13th October, 2017, except as respects things done or omitted to be done before such supercession, the Central Government, on the recommendations of the Council, hereby notifies the registered person who did not opt for the composition levy under section 10 of the said Act as the class of persons who shall pay the
central tax on the outward supply of goods at the time of supply as specified in clause (a) of sub-section (2) of section 12 of the said Act including in the situations attracting the provisions of section 14 of the said Act, and shall accordingly furnish the details and returns as mentioned in Chapter IX of the said Act and the rules made thereunder and the period prescribed for the payment of tax by such class of registered persons shall be such as specified in the said Act.
So, yes you are on right path.
central tax on the outward supply of goods at the time of supply as specified in clause (a) of sub-section (2) of section 12 of the said Act including in the situations attracting the provisions of section 14 of the said Act, and shall accordingly furnish the details and returns as mentioned in Chapter IX of the said Act and the rules made thereunder and the period prescribed for the payment of tax by such class of registered persons shall be such as specified in the said Act.
So, yes you are on right path.
saikumar
(Student CA IPC / IPCC)
(53 Points)
Replied 11 September 2018
so, on advance we need to pay GST in case of composite dealer
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 11 September 2018
Yes...........advanve reced by composit dealer is liable to pay GST
Shivam RC
(Student)
(23683 Points)
Replied 11 September 2018
Yes....
Composition Scheme Dealers have to pay GST on Advance Payment received by them...
Composition Scheme Dealers have to pay GST on Advance Payment received by them...
Vinod Babu
(24191 Points)
Replied 11 September 2018
Yes, composition dealer is liable to pay gst on advance received.
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 11 September 2018
Yes.... I agreed to All.
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 11 September 2018
As per Composition Scheme Rate
Ch. Ramachandra Rao
(Executive)
(46 Points)
Replied 11 September 2018
what is the composition scheme Rate? Is it 1%
Ch. Ramachandra Rao
(Executive)
(46 Points)
Replied 11 September 2018
What is the composite scheme Rate? Is it 1%
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