Dear sir
my question we paid 5 lakh on date Feb.19 but bill rec.1.50 lakh March. and not reporting gstr 3b and R1 March are submitted without reporting advance 3.50 amt.
we know can we reporting July 19 return but some confusion how account for in fy. 18-19 and fy. 19-20
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Advance paid Not reporting March 19
Replies (1)
Payment of advances do not attract GST. GST is only paid on receipt of advance.
In your case you have received 1.5lakh invoice from your vendor and you have disclosed in ITC of GSTR3B of FY 2018-19. Treatment is correct.
Remaining entries to be recorded in FY 19-20 once work is finished and invoices received.
In your case you have received 1.5lakh invoice from your vendor and you have disclosed in ITC of GSTR3B of FY 2018-19. Treatment is correct.
Remaining entries to be recorded in FY 19-20 once work is finished and invoices received.
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