Sale Proceeds received in the form of Asset - Accounting and GST payment process
This query is : Resolved
01 June 2023
Hi
We are purchasing a product from manufacturer and selling it to builder
We are not receiving payment from builder in bank account, after 6 months builder agreed to register a flat on our name instead of giving money
Now how should we show this in books and how should we file GST returns
Since we are a company should we register it on company name
Waiting for expert opinions
We are purchasing a product from manufacturer and selling it to builder
We are not receiving payment from builder in bank account, after 6 months builder agreed to register a flat on our name instead of giving money
Now how should we show this in books and how should we file GST returns
Since we are a company should we register it on company name
Waiting for expert opinions
02 June 2023
Raise tax invoice with GST for the supplies made to the builder.
Pass entry in books debiting builder.
Make GST payment and filing GST return.
If company don't want the flat directly regiser the flat in some one who wants to buy it and take money from him.
Pass entry in books debiting builder.
Make GST payment and filing GST return.
If company don't want the flat directly regiser the flat in some one who wants to buy it and take money from him.
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