Disclosure of receipt of deposit in gstr
This query is : Resolved
SIJU VARGHESE
(Querist)
11 October 2017
Sir,
Kindly answer to the below query,
Whether the Deposit collected by Builders need to be shown in GSTR-1?
(Here the deposit means, Corpus Fund, One Year Maintenance Deposit etc.)
Thank you
Kindly answer to the below query,
Whether the Deposit collected by Builders need to be shown in GSTR-1?
(Here the deposit means, Corpus Fund, One Year Maintenance Deposit etc.)
Thank you
CA Rashmi Gandhi
(Expert)
11 October 2017
No need to show it in GSTR
Message likes :
1 times
Udaya Chandran
(Expert)
12 October 2017
If it is refundable, no need to show it in GST returns.
12 October 2017
I think.,
this is less in maintenance charges...
If my think is correct then it ll be treat as Advance...
Treated as advance then it ll be reported in returns....
Confirmation required from Mr SIJU VARGHESE...!
CA Rashmi Gandhi
(Expert)
12 October 2017
No need to show it in GST Returns.
31 October 2026
A deposit is consideration only when applied to a supply (Sec 2(31) proviso), so a corpus fund held for transfer to the residents' association is not reportable; but advance maintenance charges for the first year are an advance for services, taxable on receipt and reported in GSTR-1 Table 11A.
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
- Gst credit note by supplier
- Missed uploading GST Invoice
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
