 "GST, goods and services tax")
We have received advance payment during the period July 1-November 15, 2017, for the export of certain goods. The goods were exported one year after receiving advance payment. Are we liable to pay GST on that?
Notification No. 66/2017, dated November 15, 2017, exempts all suppliers of goods who have not opted for composition scheme, from payment of GST on advances received. For such categories of taxpayers, time of supply would arise only at the time of issue of invoice, and they need to discharge GST liability accordingly. Exports of goods are, however, zero-rated.
We have placed a purchase order
