Applicability of GST on payment prior to dispatch of goods
Query (Issue) Started By: – MohanLal tiwari Dated:- 15-9-2017 Last Reply Date:- 25-9-2017 Goods and Services Tax – GST
Got 10 Replies
GST
Dear Panelist,
\nWe are supplying few of our goods with payment terms "prior to dispatch" and immediately on receipt of payment material is dispatched on same day or within 2-3 days.
\nPlease advise whether this payment prior to supply of goods should be considered as advance and required Receipt Voucher is to be issued or it can be taken payment against supply and GST should be charged in supply invoice.
\nReply By KASTURI SETHI:
\nThe Reply:
\nAs per Section 12(2)(b) of CGST Act, your liability for deposit of GST becomes due fro<\/p>\n
= = = = = = = =<\/p>\n
Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n OVINDARAJAN: = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Applicability of GST on payment prior to dispatch of goods Query (Issue) Started By: – MohanLal tiwari Dated:- 15-9-2017 Last Reply Date:- 25-9-2017 Goods and Services Tax – GSTGot 10 RepliesGSTDear Panelist, We are supplying few of our goods with payment terms "prior to dispatch" and immediately on receipt of payment material is dispatched on … Continue reading “Applicability of GST on payment prior to dispatch of goods”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7763","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7763"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/7763\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
For full text:-Visit the Source <\/a><\/p>\n
\nThe Reply:
\nIf the recipient insists, in my view, you have comply with the request of the recipient.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nAny amount received from customer before the actual supply is made is treated as advance. If the receipt of advance and supply of material against the advance falls in the same month, then GST is payable on supply of material. But if advance is received and supply of material is in next month then GST is payable on advance money.
\nIf customer is asking for receipt voucher then you may issue the same. Thanks.
\nReply By KASTURI SETHI:
\nThe Reply:
\nI agree with you, Sir.
\nReply By Ramaswamy S:
\nThe Reply:
\nReceipt voucher is to be provided for the advance received. GST is paid at the time of i<\/p>\n
For full text:-Visit the Source <\/a><\/p>\n