GST applicable Advance received from Customer

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..... Dear Expert We are a manufacturer and annual turnover above 1.5 crore. If we receive advance whether we need to pay GST. Regards - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = I think advance will not attract GST - Reply By Himansu Sekhar - The Reply = If it is for goods, no. GST - Reply By Himansu Sekhar - The Reply = Notification No. 66/2017-C.T., dated 15-11-2017 - Repl .....

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..... y By Himansu Sekhar - The Reply = As per the GSt concept status released by the Department on 01.08.19 Para- 9.4.9 Payment of Tax: 9.4.9.1 There shall be no requirement on payment of tax on advances received for supply of goods by all taxpayers. Please go through the entire paper. It is useful - Reply By Vivek anandhan - The Reply = Noted, Thanks to all, It is very clear that GST .....

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..... will not attract Advance for supply of goods. Also whether we need to show advance received against supply of goods information in GSTR-1 - Reply By MUKUND THAKKAR - The Reply = Need not required show in GSTR-1 , if advance received against supply of goods. - Reply By KASTURI SETHI - The Reply = I support the views of all the experts. - Reply By Ganeshan Kalyani - The Reply = Goods a .....

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..... nd services are taxed equal . So when there is lot tax on advance received toward supply of goods the the same exemption to apply for supply of service as well. - Reply By Ganeshan Kalyani - The Reply = Please read no inplace of lot . - GST applicable Advance received from Customer - Query Started By: - Vivek anandhan Dated:- 28-8-2019 Goods and Services Tax - GST - Got 9 Replies - GST - .....

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..... 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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