Dear Sirs
I have a queiry . We have a lot of vendors who are on AM contracts and other Soft ware maintenace vendors who raise invoices for say quarterly/half yearly and ancounting under annually [more cases annually] and pay the applicable GST. As a reciever of Service How do I account such bills which stretch beyond one month and I am not able to account such bills on that month only . How do I reflect that service bills under my GSTR2? or do i have to account these bills under prepaid expenses and transfer the expenses portion on month on month basis and avail the GST thereon. In that case the vendor GSTR1 and my GSTR2 would not match at all and i not sure till what period the GSTN portal would retain the mismatch of tax amount. are anybody facing this? can somebody throw light on this?
Regards
K Sreedhar
CAclubindia
