Karnataka GST Update: Notification 22/2017 Exempts Tax on Advances for Goods Supply, Overrides Previous Notification 15/2017.

The Karnataka Government issued Notification 22/2017, dated November 15, 2017, under the Karnataka Goods and Services Tax Act, 2017. It exempts all taxpayers from paying tax on advances received for the supply of goods. This notification supersedes the previous Notification 15/2017, except for actions already undertaken. It specifies that registered persons not opting for the composition levy must pay State tax on the outward supply of goods at the time of supply, as outlined in the Act. These individuals must also submit details and returns as per Chapter IX of the Act and adhere to the prescribed tax payment schedule.