If we are paying advance to supplier for setting up our factory.
Do we need to comply any provision of GST on advance payment??
2 Replies
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 03 May 2023
No GST compliance for buyer for advance payment to supplier.
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 04 May 2023
No there is no GST on payment of advance. Yes GST attracts on advance received against supply of services.
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