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TMI BlogLand Development - Service Tax and GST regimeX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Sirs, One of the Partnership Firm had Service tax Registration no. Firm had acquired land for development of industrial plots. Based on the advise of the consultants Firm has taken service tax registration and started payment of Service tax on advance received from customer for purchase of plots. During the old regime of Service tax they have just received advances, paid service tax and fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... led returns. In GST regime also they continued with the practice of receiving advance and paid GST. in the end of 2017-18 they started transfer of property in plots by executing sale deeds. in the Books earlier advance received was shown as sundry debtors. Now based on sale deeds they started booking of sales in books. Now Sales amount involves advance received during GST regime a well as se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvice tax regime also. Now the question is in GSTR-1 which amount to be reported as sales. Is it to be the sales after deducting the advance received from customer during Service tax regime ? if the answer to above question is negative then department will ask for the GST on total amount reported in GST regime ? Thank you all experts in advance. - Reply By KASTURI SETHI - The Reply = ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Q. Is it to be the sales after deducting the advance received from customer during Service tax regime ? A. No. 'Sales' represent total outward supply and and liability of 'tax payable'. You cannot deduct the amount of advance whether received during Service Tax period or post GST regime. Both are adjustable under Table 11 of GSTR-1 . GST has to be paid for advance received dur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Service Tax period. Further, it is pertinent to mention that advance is always subject to final adjustment. Advance amount itself is not consideration by any stretch of imagination. Advance or deposit becomes consideration only at the time of supply of service as defined under Section 13 of CGST Act, 2017 . Also See the definition of 'consideration' provided under Section 2(31 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of CGST Act . (a)______________________ (b) _________________________ Provided that a deposit given in respect of the supply of goods or services or both shall not be considered as payment made for such supply unless the supplier applies such deposit as consideration for the said supply; Time of supply is relevant. - Reply By Ganeshan Kalyani - The Reply = In GSTR 1 , t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here is a facility to show advances separately and the value of supply in a separate table. Sri Kasturi Sir has rightly advised. I agree with his views. Thanks. - Reply By SUDHIRKUMAR SHAH - The Reply = Dear Sirs Person has paid the service tax during service tax regime on advance received... and on balance advance received he paid GST, however they are making agreement in GST regime and booki ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng sale in Books of accounts. If he pay again GST on advance received prior to GST regime then it will be double taxation... sir kindly elaborate.. - Reply By Akarshan Goyal - The Reply = Hello Mr. Sudhir, Had you got the answer of your Query? If Yes, Please Let me know the correct Answer. Thank You. - Land Development - Service Tax and GST regime - Query Started By: - SUDHIRKUMAR SHAH ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Dated:- 4-1-2020 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply 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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