What will be advance payment treatment as per GST?

We are automobile dealer if any customer deposits any advance amount against new car insurance than what will be advance payment treatment as per GST.

Add Comment
2 Answer(s)

You shall issue invoice for advance payment received in same way as you issue in ordinary course.

Answered on July 7, 2017.
Add Comment

If any customer deposit advance against vehicle then GST will apply on advance, if customer deposit against Insurance policy than GST against this advance apply or not.

Answered on July 7, 2017.
Add Comment

Your Answer

Gen GST