Menu
GST Turnover Includes Advance
For the purpose of determining GST Audit, Advance received should be considered as a part of GST Turnover.
Replies (4)
No ..... it's does not included in Aggregate Turnover
if it is advance against serives then it will be included in TO
Dear Padmahas
As per the Defination provided in Section 2(6) of CGST Act , Aggregate Turnover does not Include Advance against supply of goods or SERVICES.
It's applicability of GST or GST Attracts when the Advance is received against supply Services.
As per the Defination provided in Section 2(6) of CGST Act , Aggregate Turnover does not Include Advance against supply of goods or SERVICES.
It's applicability of GST or GST Attracts when the Advance is received against supply Services.
As per Swastika Educonsult View
Aggregate Turnover is being defined in Sec 2(6) of CGST Act. This include all taxable supply, all exempt supply, all export etc. However it does not include Advance.
According to Section 12 (Time of Supply for Goods) or Sec 13(Time of Supply of service) advance might be taxable and GST Need to be paid. So there are 2 differnt provision where tax might need to be paid but it will not be included in Agreegate Turnover at all.
Recent Threads
- Revised Income tax return karna padega kya
- Registration as deductor on traces site
- Rental Income from a Joint Holding property
- Itr 4 return filing question
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
Related Threads
CAclubindia
