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of <h1>India exempts tax on advances for goods supply under CGST Act 2017, replacing previous rules.</h1> The Government of India, through Notification No. 66/2017, exempts all taxpayers from paying tax on advances received for the supply of goods under the Central Goods and Services Tax Act, 2017. This notification supersedes the previous Notification No. 40/2017, with certain exceptions for actions taken before its issuance. It specifies that registered persons not opting for the composition levy, except those supplying specified actionable claims, must pay central tax on outward goods supply at the time of supply. These taxpayers must also submit necessary details and returns as per Chapter IX of the Act and adhere to the prescribed tax payment period.
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