Gst on advance paid on services

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..... My newly formed firm who has not applied for GST is paying advance to a company for services. That company will pay GST on advance. I will get GST number in 20 days as I have still just applied for PAN. that company will issue me a Bill in January. Now will I get GST credit in January or just because when that Company has paid GST when I was not having GST number, I will not be able to claim credi .....

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..... t ? - Reply By ANITA BHADRA - The Reply = Dear Madam Section 18 of CGST Act 2017 states - If a person applied for registration within 30 days from the date on which he becomes liable - shall be entitled to get ITC from the day immediately preceding the day he become liable . In your case , suppose you formed firm and became liable for GST on 01st Nov 2017 and you applied for GST regist .....

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..... ration within 30 November , You will get credit of tax on advance dt 01st Nov 2017 . I hope , your query get resolved Regards - Reply By Richa Goyal - The Reply = thank you for your reply... in case, I get registration late due to certain reason, how shall i take the credit and how shall it reflect in my returns.. since the seller must have already shown my sales n their B2C sales. Thank .....

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..... s - Reply By Vamsi Krishna - The Reply = As of now GSTR-2 has been deferred and hence no need to bother about matching concept from GSTR-1 of the seller. You can claim credit subject to the timelines mentioned in the above reply. I think you shall first get PAN and then GST Reg since GST Reg is based on PAN. So try to get both of them quickly to avail timely credits. - Gst on ad .....

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..... vance paid on services - Query Started By: - Richa Goyal Dated:- 6-12-2017 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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