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<h1>Jammu & Kashmir Exempts Tax on Goods Advances u/s 148; New Rules for Non-Composition Levy Taxpayers.</h1> The Government of Jammu and Kashmir, under section 148 of the Jammu and Kashmir Goods and Services Tax Act, 2017, has issued a notification exempting all taxpayers from paying tax on advances received for the supply of goods. This notification supersedes the previous SRO-430 dated October 13, 2017. Registered persons who have not opted for the composition levy under section 10 of the Act are required to pay state tax on the outward supply of goods at the time of supply, as specified in section 12(2)(a) and section 14 of the Act, and must furnish details and returns as per Chapter IX of the Act.