we have recd an adv pymt in the month of May'18. Sales bill not yet generated even material is also under process.
in such condition wether v have to pay GST on adv recd.
State : Maharashtra
Menu
GST on advance recd.
Replies (2)
There is no GST at the time of receipt of advance. You need to pay tax at the time of issue of tax invoice for supply of goods.
Tax invoice has to be issued before or at the time of clearing goods from your place to customer place.
👍👍👍
Recent Threads
- Property value in 26QB
- Form 26QB Multiple Buyer/Multiple seller
- Company Formation for clothing business
- TDS on purchase 194Q
- Compensation for urban land acquisition
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
Related Threads
CAclubindia
