Debit note for late fees recd.
This query is : Resolved
19 January 2018
Dear Experts,
We are run a tuition centre. Some students fees paying after due date & paid late fee.
How can i show late fee received from students in GST Return. (We are issued monthly invoice to student as per Fee Plan given at a time of admission)
Can i issue Debit Note to students for Late Fee.
Some students fees not paying according to Fee Plan (For example fees receivable Rs. 10,000 but paid only 6000)
How can handle this matter. (GST payable on Rs. 10,000 or 6,000)
Regards,
Jatin
We are run a tuition centre. Some students fees paying after due date & paid late fee.
How can i show late fee received from students in GST Return. (We are issued monthly invoice to student as per Fee Plan given at a time of admission)
Can i issue Debit Note to students for Late Fee.
Some students fees not paying according to Fee Plan (For example fees receivable Rs. 10,000 but paid only 6000)
How can handle this matter. (GST payable on Rs. 10,000 or 6,000)
Regards,
Jatin
19 January 2018
Consider part payment as advance and pay GST on it.
20 January 2018
Thank you very much Sir,
Can i issue debit note for late fees recd. by student
Can i issue debit note for late fees recd. by student
20 January 2018
Yes... You can.
But, You can give bill for Late Fee instead of Debit note it's better for GSTR returns. In case you will give debit Note. At the time of GSTR 1 filing then it's ask reference no...
After you give bill and you wil get part payment then you will pay GST as per your bill value...
In case you can't give bill but received the Part payment then you can consider the part payment as advance..
But, You can give bill for Late Fee instead of Debit note it's better for GSTR returns. In case you will give debit Note. At the time of GSTR 1 filing then it's ask reference no...
After you give bill and you wil get part payment then you will pay GST as per your bill value...
In case you can't give bill but received the Part payment then you can consider the part payment as advance..
20 January 2018
Thank you very much Raja P M Sir,
Our all transactions are B to C. (Same month invoice & debit note issued)
Please explain how can i consider part payment as advance, we are making monthly invoice for example course fees Rs. 40,000
Sep, 2017 10000 receivable Rs. 10000 recd.
Oct, 2017 10000 receivable Rs. 10000 recd.
Nov, 2017 10000 receivable Rs. 5000 recd.
Dec, 2017 10000 receivable Rs. 10,000 recd.
Jan, 2018 Rs. 5000 recd. (Nov, 17 Bal Amt.)
Regards,
Jatin
Our all transactions are B to C. (Same month invoice & debit note issued)
Please explain how can i consider part payment as advance, we are making monthly invoice for example course fees Rs. 40,000
Sep, 2017 10000 receivable Rs. 10000 recd.
Oct, 2017 10000 receivable Rs. 10000 recd.
Nov, 2017 10000 receivable Rs. 5000 recd.
Dec, 2017 10000 receivable Rs. 10,000 recd.
Jan, 2018 Rs. 5000 recd. (Nov, 17 Bal Amt.)
Regards,
Jatin
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- ITC BENEFIT ON BROKRAGE PAID
- Short Term Gain Reporting ITR
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- TDS refund Indemnity Bond
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
