Goods and Services Tax – Started By: – Devika agarwal – Dated:- 22-11-2017 Last Replied Date:- 23-11-2017 – Advance received on supply of goods in not te be taxed under GST, this notification comes under CGST Act only.Why this is not come under IGST Act? – Reply By Ramaswamy S – The Reply = it is for all (CGST,SGST, IGST, UTGST). No tax on advances received for the supply of goods is to be paid. Advance received for supply of services – tax is payable.RegardsS.Ramaswamy – Reply By Ganeshan Kalyani – The Reply = No GST on advance received from customer. However, a composition dealer is still liable to pay GST on advance. Also advance on service is also liable to GST. – Reply By CS SANJAY MALHOTRA – The Reply = Please go through Section 20 o
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
ax; (x) tax deduction at source; (xi) collection of tax at source; (xii) assessment; (xiii) refunds; (xiv) audit; (xv) inspection, search, seizure and arrest; (xvi) demands and recovery; (xvii) liability to pay in certain cases; (xviii) advance ruling; (xix) appeals and revision; (xx) presumption as to documents; (xxi) offences and penalties; (xxii) job work; (xxiii) electronic commerce; (xxiv) transitional provisions; and (xxv) miscellaneous provisions including the provisions relating to the imposition of interest and penalty, shall, mutatis mutandis, apply, so far as may be, in relation to integrated tax as they apply in relation to central tax as if they are enacted under this Act: – Reply By KASTURI SETHI – The Reply = Sh.CS Sanjay Mal
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =