adjustment of advance tax

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Ranjeet Kushwaha (Querist)

15 September 2017 we paid 250000rs against advance received form a party name ABC Ltd in July's GSTR3B Now how we adjust it in August's GSTR3B because we made supply in August and the value of invoice become part of August's turnover

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

15 September 2017 There is separate column in GSTR-1 for adjustment of advance.

RAJA P M

RAJA P M (Expert)

16 September 2017 @Ranjeet., In GSTR 1 we have separate column for Advance tax adjustments. But, In GSTR 3B , You can less the advance related payments then add the liabilities that's all....

RAJA P M

RAJA P M (Expert)

16 September 2017 If your total sales tax value is Rs. 300000 (including advance received client bill). Your advance Tax 250000 - Rs. 50000 show it in 3.1. (a) Outwards Taxable Supplies....

RAJA P M

RAJA P M (Expert)

16 September 2017 If liability 300000 - less advance 250000 = 50000

Ranjeet Kushwaha

Ranjeet Kushwaha (Querist)

16 September 2017 @RAJA P M THANKS

RAJA P M

RAJA P M (Expert)

16 September 2017 You are Welcome....

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