GST on advance receipt
Rajesh Gupta (13 Points)
14 December 2017
Amount received as advance needs to be considered as inclusive of GST or excluding GST for GST payment
6 Replies
Avinash Jeevan Dsouza
(Assistant In Charge Accountant)
(3292 Points)
Replied 14 December 2017
It should considered as inclusive of GST. GST on advances applucable only for services.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 December 2017
When you get advance...?
What are the Supplies ll you made against the Advance...?
What are the Supplies ll you made against the Advance...?
Rajesh Gupta
(13 Points)
Replied 14 December 2017
Assessee got advances as a gift card or value card in Car repair service
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 December 2017
You mean Gift Card received from a Car Dealer...!?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 14 December 2017
As per my view.,
GST not applicable this transaction. Also it's your inward supplies and the Car dealer can't charge GST...
Consider/Discuss to the supplier "How to deal this billing...?"
GST not applicable this transaction. Also it's your inward supplies and the Car dealer can't charge GST...
Consider/Discuss to the supplier "How to deal this billing...?"
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