My company received an advance in June 17 now invoice for material sold is made in Aug 17. Will GST be applicable in this case.
Mostly no. According to what I heard in the masterclass was if either payment or delivery was done before GST then GST is not applicable. But it’s worth confirming with a tax professional.
Ya payment or invoice whichever is earlier, time of supply will be considered that only..here payment is early that is June which is before GST. Thanks for your suggestion.