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Adjustment of advance in GSTR-1 (QRMP), do we have to report advances adjusted for the same quarter?

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Reena

Partner

164 Points Posted on 12 April 2021

If we received an advance for the service in February. We paid the GST through challan on time. But it obviously wasn't mentioned in the IFF of February. Then we issued the invoice in March and received the balance payment in March. So do we just have to enter the invoice details in the GSTR-1 or do we also have to mention the adjustment of advance received in February in the GSTR-1 of March?

Thanks in advance for your help.

Replies (3)

Quick Summary

This discussion clarifies how to handle advance payments received under the QRMP scheme for GSTR-1. If you receive an advance payment in one period and issue the corresponding invoice in a later period, you must report the advance adjustment in the GSTR-1 of the period when the invoice is issued. This ensures accurate reporting of both the advance received and its subsequent adjustment against the final invoice.

RENU SHARMA

663 Points Posted on 12 April 2021

You have to mention the invoice detail in Gstr 1

CA Altamush Zafar

GST Consultant

10402 Points Posted on 13 April 2021

Since you have made the documents ideally you should enter them. You will enter the amount in advance received correspondingly it will be shown in advance adjustment since invoice made and then ofcourse it will be shown in b2b/b2c