Sir/Madam
Could some one please advise
There are 250000 advances received
and Rs. 1,50,000 advances adjusted
the net of Rs. 1,00,000 is required to show in HSN wise summary
Sir/Madam
Could some one please advise
There are 250000 advances received
and Rs. 1,50,000 advances adjusted
the net of Rs. 1,00,000 is required to show in HSN wise summary
NO — you should NOT show only the net amount (₹1,00,000) in the HSN summary.
You must report gross figures correctly, not netted values.
Advances is not a inward/outward supplies. So, No need to show the advance with Hsn summary
Karia Overseas
Ahmedabad
CA
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YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
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