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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Gst on advance received
Replies (4)
Only if you are service provider. For goods supplier, no GST over advances.
SIR
IF IT IS SUB CONTRACT THEN WHAT IS THE RULE?
Sub contractor is categorized under works contract service, hence GST is required to be paid for advances.
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
but advanced received for services you need to pay.
excemption is only related to goods
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