Does GST will be applicable on received advance in june on material and sold in Aug 17?

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.

Asked on August 20, 2017 in Miscellaneous.
Add Comment
2 Answer(s)

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.

Answered on August 20, 2017.
Add Comment

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.

Answered on August 20, 2017.
Add Comment

Your Answer

Gen GST