tax on advance payment received
NAVEEN (Sr.ACCOUNTANT) (261 Points)
20 November 2017
pl explain of notification no 66
3 Replies
VIKAS SAINI
(1163 Points)
Replied 20 November 2017
This is exemptions regarding tax on advance recived from customer but I am also know that this exemption available on intra state or inter state or both.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 20 November 2017
| Originally posted by : VIKAS SAINI | ||
 |
This is exemptions regarding tax on advance recived from customer but I am also know that this exemption available on intra state or inter state or both. |  |
Yes you are right......
It applies to all advances received.
RAMAPRASAD
(MBA)
(246 Points)
Replied 20 November 2017
section 66 allows for non payment of tax on advances for supply of goods both inter state as well as Intra state.
But for service you have to pay tax on service
But for service you have to pay tax on service
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