SUMIT BHARADIA asked 5 years ago
GST on Service Paid on Advance &
GST on Service Paid on Advance & Subsequnetly Opting Composition
We are service provider Registered under GST. We are paying GST on advances also. We have opted for composition scheme from 1.4.19 as our turnover is below Rs. 50 Lakhs. What will the treatment of Invoice made after 1.4.19 for which we have already made GST in Advance at 18%.
Example: Rs.1,000/- Received in February 2019 for Services to be rendered in August 2019. So Rs. 1,000/- Considered as Inclusive of GST @ 18 and paid. Show in GSTR 1 As Advance.
Now Opting for Composition Scheme and will be paying GST @ 6%.
Now Invoicing for Rs. 5,000/- in August for which Rs. 1,000/- received in Feb on which GST is Paid.
Treatment of GST paid on Advance, How will Invoice be made?
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
ConsultEase Administrator answered 5 years ago
Dear Sumit,
In GST time of supply s relevant to decide the taxability. In case of advance payment for services the time of supply will be the payment as per section 13 of CGST Act. But this time of supply will be applicable only to the extent advance is received. For rest of the amount the time of supply will be Invoice date.
