In GSTR1, Does HSN Code Include value of Advance receipt ?

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This query is : Resolved

Quick Summary

A newly incorporated LLP must deduct TDS even if turnover is below the tax audit limit. The turnover-based exemption applies only to individuals and HUFs. LLPs are required to comply with TDS provisions from incorporation, subject to applicable sections and payment thresholds.

Deepak Rawat

Deepak Rawat (Querist)

18 June 2020 Dear Sir,
I want to know that at the time of filling GSTR1, Does HSN Code include value of advance receipt ? For Example, I sold material for Rs. 1,00,000/- under HSN 1234 and from a new party I received advance for Rs. 10,000/- under same HSN.
So what value will be filled in HSN code detail, will it be Rs. 1,00,000/- (Actual sale of material) or Rs. 1,10,000/- (amount including advance) ?
Please make it clear.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

18 June 2020 HSN have to matched with Outward supply value. if you have sold and raised tax invoice of 1 lacs then you have to show HSN as 1 lacs. Advance received will not be considered if you have given tax invoice.

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