Advance receipt

This query is : Open

amit (Querist)
Follow

18 September 2017 1. Whether details of advance receipt is to be given in GSTR3B also ?

2. Can I adjust GST on advance receipt from GST credit ?

3. Is there any time limit to adjust advance receipt from customer against sale or it can be adjust at any time ?

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

18 September 2017 1.Yes 2.Yes 3.No there is no time limit ..

Message likes : 1 times

amit

amit (Querist)
Follow

18 September 2017 Mam in which column of GSTR3B I have to give details about advance receipt

In my case I have not given any such details in GSTR3B but while filing GSTR1 I provided the details of such advance receipt
Kindly assist me

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
Follow

18 September 2017 No need to worry even if you dont give details in GSTR-3B. I am also confused little bit that whether details are required to be given in 3B or not.

amit

amit (Querist)
Follow

18 September 2017 Ok mam thankyou
please update me as you get some info about this issue.

Message likes : 1 times

Ashish Garg

Ashish Garg (Expert)
Follow

19 September 2017 1. Yes, it should be added into total taxable value in table 3(a) 2.yes you can 3.no, there is no any time limit

RAJA P M

RAJA P M (Expert)
Follow

19 September 2017 1. Yes... 2. No 3. Yeah. If you received advance in a month. Also you supply the same month to the advance related. Then no need pay. You ll adjust your ITC... In case the sale made next month then you ll pay Tax on advance in the receipt of the month. At the time of sales (advance party) you ll show payment of Tax and Receipt details in invoice....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now