Goods and Services Tax – Started By: – raja raja – Dated:- 20-2-2018 Last Replied Date:- 8-3-2018 – Our company received advance against servicesAdvanced received 9,80,000/-Tds 2% recovered 20,000/- Above case we have to pay gst on 9,80,0000(980000*18/118=149492) or 10,00,000( 1000000*18/118=152543)Please advice me Thanks in advance – Reply By Ganeshan Kalyani – The Reply = on ₹ 10 lacs. – Reply By MARIAPPAN GOVINDARAJAN – The Reply = GST is to be leviable on ₹ 10,00,000/- Reply By Ravikumar muthusamy – The Reply = is GST payable on advance also? – Reply By Ganeshan Kalyani – The Reply = on service- yeson goods – no. – Reply By Ravikumar muthusamy – The Reply = I request reconfirmation of gst liability on advances received for
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yment, attracts Tax, at appropriate rate, the hands of the Supplier (Forward Charge) or Recipient (Reverse Charge) of Goods or Services or both.Notification No. 66/2017-Central Tax dtd. 15.11.2017 for the time being has kept the GST applicability on Advance at Abeyance on Supply of Goods & Services upto 31.03.2018 and accordingly, when Advance Payment is received by the Supplier of Services (where tax is payable under Forward charge) or such Advance Payment is made by the Recipient of Services (where tax is payable under Reverse Charge), Advance payment would Not attract Tax under GST Law, in respect of Supply of Goods or Services. – Reply By rajkumar shukla – The Reply = Yes.post poned but does it apply to services as well? and postpon
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