GST LIABILITY AGAINST ADVANCE RECEIVED FROM CUSTOMERS, Goods and Services Tax - GST

[SURYAKANT MITHBAVKAR]

Can we adjust GST Liability on advance received from customers against ITC available during the month or we have to make cash payment only like RCM.

Posts / Replies

[Rajagopalan Ranganathan]

Sir,

You can adjust GST Liability on advance received from customers against ITC available during the month. There is no prohibition against such adjustment in CGST Act, 2017.

[KASTURI SETHI]

Yes. Undoubtedly you can.

[MARIAPPAN GOVINDARAJAN]

You have to issue a bill incorporating the value of transaction with GST and then you adjust the advance payment made and GST in the invoice.