Adcance payment received in gst

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PANKAJ JHA (Querist)
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18 July 2017 pls confirm that what journal entry of our company rcvd 1,00,000/Rs in advance in gst. our companies product Tax slab under 18%.

RAJA P M

RAJA P M (Expert)
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18 July 2017 Which software you use....?

PANKAJ JHA

PANKAJ JHA (Querist)
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18 July 2017 Tally erp use

RAJA P M

RAJA P M (Expert)
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18 July 2017 After Download vet. 6. You ll be create receipt voucher then also it's shown default in top of the Receipt Voucher. You see that and Try it... Any errors post here...

RAJA P M

RAJA P M (Expert)
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18 July 2017 Tally Software Ver.6*

PANKAJ JHA

PANKAJ JHA (Querist)
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18 July 2017 sir, my queation is any liabilities create if our company received advance...from debtors under Gst regime

RAJA P M

RAJA P M (Expert)
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19 July 2017 Yes Yes Yes.... If you ll supply @18% goods to your debtors. Goods value is Rs. 100000 + 18000=118000. you'll be get Rs. 50000 advance. You can pay 18% tax for the advance. After your billing you can reverse the advance tax....

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