Goods and Services Tax – Started By: – MohanLal tiwari – Dated:- 14-8-2017 Last Replied Date:- 15-8-2017 – Please advise for applicability of GST on advance payment from foreign buyers. Please consider that we are charging IGST in our Export Invoice while exporting the goods. – Reply By RAMESH PRAJAPATI – The Reply = Exports are classified as zero rated supply. So GST is not required to be paid on advances. At time of export you can clear goods on payment of IGST or without payment of IGST. It is your choice. There is no revenue loss to the Government. – Reply By MohanLal tiwari – The Reply = Thanks Mr Rajput. Do we need to issue Advance Receipt Voucher for advance from foreign buyers. – Reply By Rajagopalan Ranganathan – The Reply = Sir,
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tax (central tax, State tax, integrated tax, Union territory tax or cess); (h) amount of tax charged in respect of taxable goods or services (central tax, State tax, integrated tax, Union territory tax or cess); (i) place of supply along with the name of State and its code, in case of a supply in the course of inter-State trade or commerce; (j) whether the tax is payable on reverse charge basis; and (k) signature or digital signature of the supplier or his authorised representative: Provided that where at the time of receipt of advance,- (i) the rate of tax is not determinable, the tax shall be paid at the rate of eighteen per cent.; (ii) the nature of supply is not determinable, the same shall be treated as inter-State supply. This rule d
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