Debit note for late fees recd.

This query is : Resolved

Jatin (Querist)
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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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 January 2018 Consider part payment as advance and pay GST on it.

Jatin

Jatin (Querist)
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20 January 2018 Thank you very much Sir,

Can i issue debit note for late fees recd. by student

RAJA P M

RAJA P M (Expert)
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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..

Jatin

Jatin (Querist)
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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

RAJA P M

RAJA P M (Expert)
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20 January 2018 When you issued Invoices with GST...?

Jatin

Jatin (Querist)
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22 January 2018 1st day of every month