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TMI BlogGST on advance received after TDSX X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Experts, If advance received is Rs, 10,800(10000+1800 GST-1000 TDS), My query is- 1. what will gst liability on advance whether 1800 or 1648 (by grossing up 10,800) ? 2. Also whether TDS receivable can be booked if Invoice not raised. In that case if supply cancelled we Refund ₹ 10,800/ after few months. Is there any circular regarding that....Pl share. Seek your advice. Thanks, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Reply By Shilpi Jain - The Reply = Gst liability will be 1800. The 1000 which is deducted as TDS is going to your account only. - Reply By Ashiesh Prremji - The Reply = Thanks for Reply Madam! But please also clear, can we book TDS receivable at point of advance received without issuing Invoice. Those income which has not been shown, pertaining to that can we take benefit of tds. - Reply ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... By Shilpi Jain - The Reply = Sir regarding tds u will have to put the query under IT. Am not a person to reply on that aspect. - Reply By Rajagopalan Ranganathan - The Reply = Sir, GST is payable on the gross amount charged which will include TDS deducted. Therefore GST is payable on ₹ 11000/- - Reply By Ganeshan Kalyani - The Reply = Sir, I hope the query is related to advance rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ived against supply of service and not supply of goods .. - GST on advance received after TDS - Query Started By: - Ashiesh Prremji Dated:- 30-10-2021 Goods and Services Tax - GST - Got 5 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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