TaxTMI 
TaxTMI 
Documents to be issued or raised while collecting advance payments etc
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....ocuments to be issued or raised while collecting advance payments etc<br> Query (Issue) Started By: - mathur ramachandran Dated:- 10-10-2020 Last Reply Date:- 14-10-2020 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>1. A German company is executing a project in India for their client in India and my client is giving technical support (water flow measurement) to the said project under a s....
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....ervice contract with the German Company for about 3 crores. My client has received an advance payment of ₹ 5000000/- on 1.11.19 from the German company. .The contract is still at the execution stage only. Should he raise a tax invoice for the same at this stage on the German company? If not what other document he has to raise in respect thereof at this stage? 2.My client has executed a serv....
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....ice contract (water flow measurement) (export of service) in Sri Lanka on 3.1.20 and has raised an invoice for 90949/- . No GST is levied in the invoice. My question is whether it can be treated as zero rated or whether applicable GST has to be paid thereon Ca M S Ramachandran ph 91-9447776812 Reply By KASTURI SETHI: The Reply: 1. At this stage, tax invoice cannot be issued. Voucher is to be ....
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....issued. Go through the following:- "Section 2 (118) of CGST Act "voucher" means an instrument where there is an obligation to accept it as consideration or part consideration for a supply of goods or services or both and where the goods or services or both to be supplied or the identities of their potential suppliers are either indicated on the instrument itself or in related documenta....
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....tion, including the terms and conditions of use of such instrument;" 2. It will be zero rated supply, if you qualify the following conditions : Section 2 (6) of IGST Act "export of services" means the supply of any service when, - (i) the supplier of service is located in India; (ii) the recipient of service is located outside India; (iii) the place of supply of service is outsid....
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....e India; (iv) the payment for such service has been received by the supplier of service in convertible foreign exchange [or in Indian rupees wherever permitted by the Reserve Bank of India]; and (v) the supplier of service and the recipient of service are not merely establishments of a distinct person in accordance with Explanation 1 in section 8; Reply By Ganeshan Kalyani: The Reply: I agre....
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....e with the views of Sri Kasturi Sir.<br> Discussion Forum - Knowledge Sharing ....