Goods and Services Tax – Started By: – Ramakrishnan Seshadri – Dated:- 31-8-2018 Last Replied Date:- 31-8-2018 – We are going to construct one factory.For this we have awarded the contract to one construction company.We have paid advance and gst to them.Now they have given their first bill after after adjusting the 50% advance and 50% gst on this bill.Whether this correct or not?Details as below in example:-Total contract value : 100 croresAdvance 30% : 30 crores +GST 5.4 croresBill submitted for 25%on contract value :25 crores +4.5 croresThey have adjusted 50% of the advance and gst paid in their first bill submitted.ie.: 15 crores +GST :2.7 croresThe balance 50% advance will be adjusted in the next bill.Could you please suggest whether t
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tral Tax, dated 15/11/2017, extended the benefit to all taxable persons (other than Composition dealers). This relief is not available on outward supply of services. GST is payable on advance received in case of outward supply of services. Construction Company providing SERVICES to you . They need to pay GST on received of advance itself. In my view , GST on Advance can not be kept pending for adjustment in their subsequent bills – Reply By Ganeshan Kalyani – The Reply = GST is applicable on receipt of advance toward service. The supplier of service shall pay tax on advance received and adjust that tax paid against the invoice he will raise in future. – Reply By DR.MARIAPPAN GOVINDARAJAN – The Reply = I endorse the views of Ms. Anita – Disc
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