Treatment of advance received

This query is : Resolved 

21 March 2023 If the payment is received from the client on advance basis in March, rendering of services will take place in the month of April. Is it okay to raise a bill in the next month when actual services will be provided? Or it needs to raise by this month since the amount was received in this month?

21 March 2023 Raise bill based on services provided, and not based on advances.

21 March 2023 Okay thank you sir. May I know the effect with regards to GST on this?

21 March 2023 The advance receipt issued would be inclusive of GST.

21 March 2023 If we need to file GST at the time of advances received. Then how can we reverse it in the billing month?

21 March 2023 There is An Option of Adjustment of Advances in Form GSTR-1. You can Disclose the said Amount There.

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