Gst on advance received

siva andhavarapu (ca final) (388 Points)

10 March 2019

HAI

Is gst to be collected on the advances received from sep 2018 till now and to be shown in gstr as advances?

Pls clarify

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4 Replies

Paresh Raut (other) (264 Points)
Replied 10 March 2019

Only if you are service provider. For goods supplier, no GST over advances.

5 Like

siva andhavarapu (ca final) (388 Points)
Replied 10 March 2019

SIR

IF IT IS SUB CONTRACT THEN WHAT IS THE RULE?

Parinati Shastri (acct) (179 Points)
Replied 10 March 2019

Sub contractor is categorized under works contract service, hence GST is required to be paid for advances.

7 Like

pritesh (CA Final student) (7101 Points)
Replied 11 March 2019

Advanced received for goods no need to pay tax on that..
but advanced received for services you need to pay.

excemption is only related to goods

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