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.
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.
CAclubindia
