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Builders - advances - gst - subsequent billing


LAKSHMI KANTH (TAX CONSULTANT)     24 October 2020

LAKSHMI KANTH
TAX CONSULTANT 
 10 likes  384 points

| My Other Post

Sir,

In builders cases, we are collecting the advances and accordingly GST is discharged on advances and getting reflected in the R1 Return in the advances tab. But by the time it is billed it may be more than 2 years or three years based on size of the construction but, advances shown in the R1 return can be amended only till to the September Return of the subsequent year. So, in this case, when bill is billed after two years or three years, how to amend the invoices from Advance to invoice. Kindly advise.

avater

ayusmita (Tax consultant)     24 October 2020

ayusmita
Tax consultant 
 164 likes  2324 points

View Profile | My Other Post

Read gst relates to real-estate cbic
and by ca Suhas p bora article related to real estate


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