Adjustment of advance during GST regime

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....djustment of advance during GST regime<br> Query (Issue) Started By: - Partha Sarkar Dated:- 13-6-2017 Last Reply Date:- 23-6-2017 Goods and Services Tax - GST<br>Got 1 Reply<br>GST<br>Dear Expert P....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lease guide me how to adjust advance amount received from Customer on EPC contract during GST regime.Let say we got a EPC contract of INR 1000/- which is divisible contract (consist of supply of INR 8....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....00/-+ engineering INR 200/-) & we got a 10% advance on INR 1000/- i.e INR 100+ Service tax on INR 200/- i.e INR 20/- & deposited the st liability to the government. How to adjust advance amount & its....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... service tax while raising invoice on post GST regime. Best regards Parth Reply By piyush agarwal: The Reply: In my view, The date you will receive advance you need to issue a receipt voucher. Fu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rther when you raise Tax invoice you need to show full value of taxable service of &#8377; 1000 and need to charge GST @ 18% on 1000 ie 180 less GST adjusted with advance 200. Total (1000+160= 1160)<b....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r> Discussion Forum - Knowledge Sharing ....