Goods and service tax on Advance payment to Overseas Supplier

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..... Goods and service tax on Advance payment to Overseas Supplier
Query (Issue) Started By: - SNEHAL SHAH Dated:- 16-6-2017 Last Reply Date:- 19-6-2017 Goods and Services Tax - GST
Got 2 Replies

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..... >GST
Dear sir , As per GST Law Tax liability on Advance also . If we give order for procure goods/materials to overseas vendor ( As a Import ) and some amount will pay as a advance , than GST app .....

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..... licable on advances and who will pay GST ( as per me GST will pay as per reverse charge mechanisam ). Please provide your valuable input sir . Regards, SNEHAL Reply By MUKUND THAKKAR: The Reply: .....

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..... GST is applicable in case you have received advance in connection of supply of goods or services, In your case you had paid advance for procurement of import goods so GST is not applicable to you und .....

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..... er RCM. if you paid RCM and material arrived in India in BCD and IGST will be charged by custom. if you paid under RCM than your import duty will be double. first you paid under RCM and time of clear .....

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..... ance of goods. RCM is not applicable to you against advance for procuring Import Material. Reply By SNEHAL SHAH: The Reply: Thanks a lot sir for valuable reply .
Discussion Forum - Knowledge .....

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..... Sharing .....

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