Gst on advance receipt

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2018 I am Individual having warehouses which are rented to a Company. From July17 to March 18 i have issued Rental invoices and received payment in respect of the same and paid GST and filed returns on the same. Now I want to Convert Above rental invoices into Advance Amount on 30-06-2018. What is the procedure to show as Advance which will be adjusted in future.

Kindly help me in this regard

RAJA P M

RAJA P M (Expert)
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29 June 2018 I understand Your query...

But, Some details required...

Why You Convert the Advance against the Bills...?

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2018 Earlier i have taken some amount which is more than rental agreement. So my client is not agreeing with the above. So now I want to convert that amount into advance and will be used for future tax liability. So requesting you to procedure for conversion and rectification that are need to be done under income tax act and GST act.They have paid TDS also.

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