Whether gst is payable on all advances?

Whether gst is payable on all advances that are received and outstanding as on 30.06.2017 for supply of goods to customers.

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6 Answer(s)

Yes

Answered on June 8, 2017.
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Yes it applicable to advances also.

Answered on June 8, 2017.
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I don’t think it would be applicable to outstanding amt.

Answered on June 8, 2017.
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No gst will not be applicable on advance received pre-gst…it will be applicable on receipt of advance in post- gst.

Answered on June 8, 2017.
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No

Answered on June 8, 2017.
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No. GST will not be liable to be paid on advance received before 30 June 2017. at the time of supply GST will be paid.

Answered on June 9, 2017.
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Your Answer

Gen GST