Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

TURNOVER GST REGISTRATION

Akshay Kishor Dalwale (Audit Assistant) (39 Points)

25 June 2020

Whether Advance received for Supply of Service is considered for threshold limit for GST REGISTRATION ?

Reply
Follow
Share

3 Replies

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 26 June 2020

No......... advances do not cover under Defination of Aggregate Turnover under section 2(6) of the CGST Act

Upgrade to CAclubindia Pro. Subscribe Now!

CA Pranav Mishra (241 Points)
Replied 28 June 2020

No not considered

Akshay Kishor Dalwale (Audit Assistant) (39 Points)
Replied 28 June 2020

Aggregate turnover” means the aggregate value of all taxable supplies

& Taxable supply has been broadly defined and means any supply of goods or services or both which, is leviable to tax under the Act.

In view of above definition Advance is also taxble .. ?