https://www.taxtmi.com/article/detailed?id=13402 Service providers must treat payments received before supply as GST on advances, with GST payable at the rate applicable to the service. The time of supply is the earlier of invoice or receipt of payment, requiring issuance of a receipt voucher on receipt of an advance. GST paid on advances is adjustable against the final invoice; excess tax may be refundable, while refunds of advances before supply require a refund voucher and reversal of tax. Input Tax Credit on advances is not available until services are received. en-us Sat, 25 Jan 2025 11:42:25 +0530 Sat, 25 Jan 2025 11:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13402 Service providers must treat payments received before supply as GST on advances, with GST payable at the rate applicable to the service. The time of supply is the earlier of invoice or receipt of payment, requiring issuance of a receipt voucher on receipt of an advance. GST paid on advances is adjustable against the final invoice; excess tax may be refundable, while refunds of advances before supply require a refund voucher and reversal of tax. Input Tax Credit on advances is not available until services are received. Articles Goods and Services Tax - GST Sat, 25 Jan 2025 11:42:25 +0530 https://www.taxtmi.com/article/detailed?id=13402