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TMI BlogAdvance receivedX X X X Extracts X X X X X X X X Extracts X X X X ..... When a person receives advance amount, he has to pay GST if the supply is not made in the same month of receipt. Now the question is: I receive cash ₹ 50,000.00 advance for a product with a GST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 18%. Whether I should pay GST for ₹ 50,000.00 or should i split the turnover by reverse working and tax to be paid for ₹ 42,373.00. What the relevant CGST/SGST provision says? Earlie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r in Service Tax regime, when advance amount is received we used to pay for full value of ₹ 50K. Thanks - Reply By Mayuri Shete - The Reply = when we have received advance, we have done rever ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se calculation of advance recd for GST liability, submitted advance receipt voucher to client indicating GST details. - Reply By Ganeshan Kalyani - The Reply = I have read in twitter question and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... answer. It was mentioned that GST on advance to be 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... = It is the cum tax value. - Advance received - Query Started By: - RENGARAJ R.K Dated:- 13-9-2017 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, repl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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