CBEC exempts all taxpayers from payment of tax on advances received in case of supply of goods

CBEC exempts all taxpayers from payment of tax on advances received in case of supply of goods

November 17, 2017 GST 0

Central Board of Excise & Customs (CBEC) has issued a Notification No. 66/2017- GST dated 15th November,2017 and hereby exempts all taxpayers from payment of taxes on the receipt of advances in case of supply of goods and such taxpayers shall pay the central tax on the outward supply of goods earlier of the date of issue of invoice by the supplier or the last date on which he is required to issue the invoice with respect to the supply and shall accordingly furnish details in the returns as specified in the Central Goods and Services Tax Act, 2017.

Source : Central Board of Excise & Customs

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