Question : Will GST be payable at the time of raising an invoice for supply of goods from a mining lease holder or it will be applicable on the amount of advance received by the mining company for booking the order?
Answer: No. As per the provisions of section 12(2) of the CGST Act, 2017 the time of supply of goods shall be the
date of issue of invoice or the date of receipt of payment, whichever is earlier. Accordingly, GST would be payable on
advance payment received prior to issuance of the invoice.
Related GST FAQ
GST on Handicraft Sector : FAQ
150 GST FAQ’s Replied by Govt of India
GST Tweet -100 FAQs replied by Govt ; Compilation
GST Rates FAQs on queries of Various Sectors Clarified by Govt
GST FAQs on queries of Various Sectors : Issued by Govt
GST on Drugs and Pharmaceuticals : FAQ
GST on Food Processing Industry : FAQ
FAQs on Composition Levy under GST ( India )
GSTIN / PAN and Invoice information in Shipping Bill
Bond or LUT along with Shipping Bill
Related Topic on GST
Topic | Click Link |
GST Acts | Central GST Act and States GST Acts |
GST Rules | GST Rules |
GST Forms | GST Forms |
GST Rates | GST Rates |
GST Notifications | GST Act Notifications |
GST Circulars | GST Circulars |
GST Judgments | GST Judgments |
GST Press Release | GST Press Release |
GST Books | Best Books on GST in India |
GST Commentary | Topic wise Commentary on GST Act of India |
GST You Tube Channel | TaxHeal You Tube Channel |
GST Online Course | Join GST online Course |
GST History | GST History and Background Material |