Advance received

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....dvance received<br> Query (Issue) Started By: - RENGARAJ R.K Dated:- 13-9-2017 Last Reply Date:- 14-9-2017 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>When a person receives advance amount....

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...., he has to pay GST if the supply is not made in the same month of receipt. Now the question is: I receive cash &#8377; 50,000.00 advance for a product with a GST of 18%. Whether I should pay GST for ....

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....&#8377; 50,000.00 or should i split the turnover by reverse working and tax to be paid for &#8377; 42,373.00. What the relevant CGST/SGST provision says? Earlier in Service Tax regime, when advance am....

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....ount is received we used to pay for full value of &#8377; 50K. Thanks Reply By Mayuri Shete: The Reply: when we have received advance, we have done reverse calculation of advance recd for GST liabi....

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....lity, submitted advance receipt voucher to client indicating GST details. Reply By Ganeshan Kalyani: The Reply: I have read in twitter question and answer. It was mentioned that GST on advance to b....

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....e worked out by inclusive method. That is you will have to pay GST within the advance amount received. Thanks. Reply By Himansu Sekhar: The Reply: It is the cum tax value.<br> Discussion Forum - Kn....

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....owledge Sharing ....