Advance received for supply of goods

[SUBRATA RAY]

My query is whether a composition dealer is liable to pay tax on advance received for supply of goods in future. whether Notification No 66/2017 has excluded composition dealer from exemption of payment of tax on advance receipt from supply of goods

AI Summary

Composition Dealers Must Pay GST on Advances for Future Goods Supply Per Notification No 66/2017 A query was raised regarding whether a composition dealer under the Goods and Services Tax (GST) is required to pay tax on advances received for future goods supply, specifically in light of Notification No 66/2017. Two responses confirmed that the notification excludes composition dealers from the exemption, meaning they must pay GST upon receiving an advance. Both respondents agreed that there is no exemption for composition dealers in this context.