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GST on advances that has been carried forward after 30th june 2017.

Pankaj Kumar (Accountant) (58 Points)

16 June 2017

if we have received advance from our customers before 30th june. Now we carrying forward these advances after 1st july, will I have to charge GST over these advances.?

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5 Replies

Bhavleen Kaur Oberoi (Chartered Accountant) (228 Points)
Replied 16 June 2017

no gst will not be charged on these advances

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Bhavleen Kaur Oberoi (Chartered Accountant) (228 Points)
Replied 16 June 2017

no gst will not be charged on these advances

Pankaj Kumar (Accountant) (58 Points)
Replied 16 June 2017

Thank You Sir.

Sanjeev Pati (Accountant) (250 Points)
Replied 17 June 2017

I have a question...

If Mr. Sohan (Jharkhand) supplies goods to Mr. Mohan (Delhi) on a continuous basis. Mr. Sohan sent goods worth Rs. 1,00,000 on 15th July for which Mr. Mohan made an advance payment (Part Payment) on 12th June..... When raisng bill in July after implementation of GST Will GST apply?

Means Mr. Sohan has to raise GST Bill or Other bill....

Plz Ans....