GST on Advance Payments
0 likes | 2 Views
GST on Advance Payments refers to the tax liability that arises when a business receives payment before supplying goods or services. Under GST law, tax is payable on advances received for services, but not typically for goods, unless specifically notified. When an advance is received, the supplier must issue a receipt voucher and pay GST at the applicable rate. This ensures timely tax compliance, even before the actual delivery. Upon completion of supply, the advance is adjusted in the final invoice. Proper documentation and timely tax payment are crucial to avoid penalties and interest.
Download Presentation 
GST on Advance Payments
An Image/Link below is provided (as is) to download presentation
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.
Content is provided to you AS IS for your information and personal use only.
Download presentation by click this link.
While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
During download, if you can't get a presentation, the file might be deleted by the publisher.
E N D
Presentation Transcript
More Related