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GSTR 1 in case of Builders and developer
Dear team, how to show an advances received from customers against the flats agree to sell them in GSTR 1, whether to show in B2B table or in Advances received column and how to adjust it, if shown in advance table. please guide thank you
Replies (1)
Whether amount received is a turnover or an advance as per GST has to be determined first and accordingly the disclosure has to be made. To determine whether it is turnover or advance, the agreement has to be looked into.
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