Advance received
Query (Issue) Started By: – RENGARAJ R.K Dated:- 13-9-2017 Last Reply Date:- 14-9-2017 Goods and Services Tax – GST
Got 3 Replies
GST
When a person receives advance amount, he has to pay GST if the supply is not made in the same month of receipt. Now the question is: I receive cash ₹ 50,000.00 advance for a product with a GST of 18%. Whether I should pay GST for ₹ 50,000.00 or should i split the turnover by reverse working and tax to be paid for ₹
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