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Advance receipt under GST

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worker
64 Points Posted on 18 September 2017
1. Whether details of advance receipt is to be given in GSTR3B also ?

2. Can I adjust GST on advance receipt from GST credit ?

3. Is there any time limit to adjust advance receipt from customer against sale or it can be adjust at any time ?
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On 18 September 2017 at 20:58 Report
Replies (12)
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Chartered Accountant
86505 Points Posted on 18 September 2017
advance received from supplier its accounting treatment /experts/details.asp?mod_id=2572199
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On 18 September 2017 at 21:19
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139 Points Posted on 18 September 2017
1.Yes
2.Yes
3.No time limit
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On 18 September 2017 at 22:48
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worker
64 Points Posted on 18 September 2017
what if not mentioned in GSTR3B
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On 18 September 2017 at 22:50
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139 Points Posted on 18 September 2017
Sir,
when you file GSTR 1 GSTN will compare it with GSTR 3B.
This may lead to difference and notice to pay interest
You can refer Circular No 7 of CGST Dt. 01 Sep 2017
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On 18 September 2017 at 22:55
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Chartered Accountant
86505 Points Posted on 18 September 2017
Yes you have to pay interest on balance liability.
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On 18 September 2017 at 22:55
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worker
64 Points Posted on 18 September 2017
what if I have GST credit available with me
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On 18 September 2017 at 22:56
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Chartered Accountant
86505 Points Posted on 18 September 2017
No Int to be paid.

GSTR-3B is only provisional return. You can correct details in GSTR-1,2&3
1 Reply
On 18 September 2017 at 22:58
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139 Points Posted on 18 September 2017
sir,
Interest will be applicable as balance in electronic credit ledger shall utilised towards payment of interest by debiting to electronic credit ledger

I have to check whatever their is any notification for not charging interest for mistakes on GSTR 3B
As far as my reading only Late filing fee has been waived vide Notification no 28 Dt 01 Sep 2017
1 Reply
On 18 September 2017 at 23:09
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TAX CONSULTANT
41 Points Posted on 21 September 2017
Whether advance receipt details be displayed in the Invoice?
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On 21 September 2017 at 09:19
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Chartered Accountant
86505 Points Posted on 22 September 2017
Yes.......
1 Reply
On 22 September 2017 at 00:07
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TAX CONSULTANT
41 Points Posted on 22 September 2017
Is there any discrimination as wholesaler or retailer.
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On 22 September 2017 at 02:33
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Chartered Accountant
86505 Points Posted on 22 September 2017
No...........
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On 22 September 2017 at 07:31


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