an assessee who had recd the advance in month of july against the bill raised in Aug and also he paid a tax on same in d month of july itself so will it be eligible to take a credit in month of march in GSTR3B and also where he shows the advance adjustment in GSTR1 and for same amount should be reflect in B2B coloumn or not ??
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Advance Adjustment in GSTR-1
Replies (7)
ITC OF GST ON ADVANCE CAN BE ADJUSTED AT THE TIME ACTUAL SUPPLY AGAINST THAT ADVANCE.
No need to show the advance received / adjusted in GSTR 1 B2B section...
Enter in Table 11: Details of Advances Received/Advance adjusted in the current tax period ...
Enter in Table 11: Details of Advances Received/Advance adjusted in the current tax period ...
What if I forgot to adjust advance in the month in which invoice against it has made in GSTR 1???
No need to show the advance received / adjusted in GSTR 1 B2B section... Enter in Table 11: Details of Advances Received/Advance adjusted in the current tax period ...
if i not show Advance or advance adj in B2B how can we transfer tax credit to the part when goods received or service provided to the receipient.
The credit will be available to the buyer through the final sales invoice entered in B2B by the seller in GSTR 1
if total contract amount is 100000 and i received 25000 as advance in January month and he issued final bill in the month of February. now how can i upload in gstr 1 for the month January and February.
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