Advance from customers
Query (Issue) Started By: – MohanLal tiwari Dated:- 10-6-2017 Last Reply Date:- 11-6-2017 Goods and Services Tax – GST
Got 4 Replies
GST
Sir,
We are manufacturer of tailor made castings / machinery parts meant for a particular customer for their specific use. We are generally taking mobilization advance against Advance Bank Guarantee from our customers to ensure they will take ordered materials after their readiness. If they cancel order or do not take materials, it will be just scrap for us.
from 1st July'17 onward, GST will be payable on such advance as per rate applicable for goods, kindly advise for :-
1. Whether we should charge GST in our Proforma Invoice for advance payment.
2. Whether Buye
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