GST on Advance Money
This query is : Resolved
19 January 2020
Hi,
We have make the AMC payment to the vendor on half yearly basis. the vendor raised tax invoice on 01..01.2020 for the value rs 106200 for the periods Jan'20 to Jun'20. and accounting entry would be:
Advance ac dr : 90000
CGST Dr : 8100
SGST Dr : 8100
Vendor Cr : 106200
Every month we have cleared this Advance GL and Transfer to AMC account upto 6 months ( Upto Jun'20).
My doubts :
01. They asking payment upto Jun'20 period but raised Tax invoice with GST. Is this correct.?
02. My team leader told, If they raised tax invoice, no need to ask proforma however we have paid GST and they filled GSTR 01 for the value 16200 and we can avail immediately. No litigation issue happened in future. is this correct.? Please clarify me.
We have make the AMC payment to the vendor on half yearly basis. the vendor raised tax invoice on 01..01.2020 for the value rs 106200 for the periods Jan'20 to Jun'20. and accounting entry would be:
Advance ac dr : 90000
CGST Dr : 8100
SGST Dr : 8100
Vendor Cr : 106200
Every month we have cleared this Advance GL and Transfer to AMC account upto 6 months ( Upto Jun'20).
My doubts :
01. They asking payment upto Jun'20 period but raised Tax invoice with GST. Is this correct.?
02. My team leader told, If they raised tax invoice, no need to ask proforma however we have paid GST and they filled GSTR 01 for the value 16200 and we can avail immediately. No litigation issue happened in future. is this correct.? Please clarify me.
19 January 2020
1 and 2 it's right no need of proforma invoice.
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