Please guide me If we received advance from our customers of Rs.2 Lacs & if We refund Rs.1.50 Lacs, how can we make entry in GSTR-1? Please guide.
Menu
Advance received in july,2017 refund to customer in jan 2018
Replies (4)
In July it will be in Advances total.
In January month you will reverse that much advance amount from total advance received..
In January month you will reverse that much advance amount from total advance received..
BUT IN WHICH WAY? WHERE TO ENTRE IN GSTR1
In GSTR 1 there is separate coloum for Advances.
first of all yoh reveived advance in july means you have to pay tax on RCM basis that time in july you have to show this in gstr 1 column tax on advance
now in month when you refunded then yoh can show it in adjusted advance column
now in month when you refunded then yoh can show it in adjusted advance column
Recent Topics :
- Capital gains on sale of flat from wife to husband
- TDS filing for the 1st quarter of TY 2026-27
- Login into Old Traces Portal
- Professional Income reporting in ITR-3
- Pf exemption in hand of spouse on demised of husba
- Missed deadline to revise ITR for a foreign asset
- Durga Puja 2026 Dates: Mahalaya, Shashthi to Vijay
- Indo-MIM IPO Allotment Date, Status Check and List
- GSTR 1 filed but GSTR 3 B no filed
- ITR FORM FILING REGARDS
Related Topics :
CAclubindia
