Question9: As reverse charge on advances has been deferred till 31st March. My query what would be the treatment on advance received on dated 10th November, 2017 of Rs.50 Lacs as amendment has come in force from dated 13th November, 2017. Kindly advise to file correct return for the Month of November, 2017.


Answer: Please note that payment of GST on advance is not reverse charge as mentioned in the question. Basic notification no 40/17 is amended by notification no 66/17 This notification has come into force W E F 15 Nov 17 any transaction taken place before this date is to be taxed as per the provision applicable on the date of transaction Therefore you have to charge GST on the advances received before the date of amendment The amendment is prospective and not retrospective (Reply dt. 11/12/2017)