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of <h1>GST on Advances: Goods Suppliers Exempt Until Invoice Issued, Service Suppliers Pay on Receipt per CGST Act Sections 12-14.</h1> The GST law mandates that tax on advances for future supplies is determined by the time of supply, as per Sections 12 to 14 of the CGST Act, 2017. Generally, GST is payable when an advance is received, irrespective of supply completion. Notification 66/2017 exempts goods suppliers (not under the composition scheme) from paying GST on advances, shifting the tax liability to the invoice issuance time. Service suppliers must pay GST upon receiving advances. Tax rates may vary, and adjustments or refunds are possible if tax rates change post-advance receipt. Compliance includes issuing receipt vouchers and maintaining records, with specific reporting in GSTR-1 forms. Composition dealers are not required to pay tax on advances related to their outward supplies.
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