Advance Received

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374 Points Posted on 10 April 2020
Is Advance received on supply of service is rs 400000 on which gst is Rs.48000 should it be added to outward tax liability and 400000 be added to taxable value in GSTR 3b and should I pay tax while filling 3b and should I file this while filing GSTR 1
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On 10 April 2020 at 23:15 Report
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When you receive an advance payment for services, GST is applicable. You must report the advance amount as taxable value and the GST amount as your liability in Table 3.1(a) of your GSTR-3B. This advance tax liability should be paid when filing your GSTR-3B, and it should also be declared in GSTR-1 under the 'Advance Received' section.

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227 Points Posted on 11 April 2020
Advance received on service is liable to pay tax. Advance received shall be reported under the table of "Advance Received". Pay the advance tax liability in GSTR -3b under table 3.1(a)(outward supply).
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On 11 April 2020 at 05:56
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374 Points Posted on 11 April 2020
In GSTR 3B should I include 400000'in taxable value and 48000 in gst liability right?
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On 11 April 2020 at 10:05
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227 Points Posted on 11 April 2020
Yes!! you right
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On 11 April 2020 at 10:20
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Chartered Accountant
12739 Points Posted on 11 April 2020

pay tax and show as outward supply in GSTR_3B 

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On 11 April 2020 at 11:43
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Tax Consultant
3088 Points Posted on 16 May 2020

please look 

https://ckbajpai.com/2020/05/16/what-t-do-when-gst-paid-on-advance-amount-received-but-contract-or-sale-get-cancelled-for-any-reason/

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On 16 May 2020 at 16:22

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