Regarding adjustment of advance

231 views
User Avatar

Senior Accounts Officer
1244 Points Posted on 22 September 2018

SIR WE RECEIVED ADVANCE 4 LAKH IN AUGUST MONTH . SO WE DEPOSIT GST @ 18 % ON IT.

AMOUNT RECEIVED 4 LAKH

GST @ 18 %         = 72000

SIR WHEN I WILL FILL GSTR 1 OR 3B MONTH OF AUGUST THAN I WILL SHOW IT AS GST ON ADVANCE IN SPECEFIED COLOUMN. BUT SIR HOW I WILL ADJUST THESE AMOUNT ??????

0 Reply Share Follow Topic
On 22 September 2018 at 14:39 Report
Replies (6)
User Avatar

Student
1919 Points Posted on 22 September 2018
https://cleartax.in/s/advance-received-under-gst


Go through the article please
2 Reply
On 22 September 2018 at 15:28
User Avatar

102 Points Posted on 22 September 2018
is advance received against supply of goods or supply of services ??
1 Reply
On 22 September 2018 at 16:17
User Avatar

GST Practitioner
29904 Points Posted on 22 September 2018
when you will issue the bill against adavnce reced. in next month, in GSTR 1 you will adjust it in 11B

In 3B , : suppose you raise bill for 5lac in sept month against adavance 4 lac , you will deposit tax on 1 lac & show only 1lac taxable supply in 3B (Because 4 lac has been shown in aug.month 3b)
1 Reply
On 22 September 2018 at 17:23
User Avatar

Senior Accounts Officer
1244 Points Posted on 22 September 2018
for service I think advance will be applicable. This is for goods and my turnover is above 1.5 crore. Advance will not be applicable turn over upto 1.5 crore as per notification no 40/2017 october 2017 for goods only
Reply
On 22 September 2018 at 18:47
User Avatar

GST Practitioner
29904 Points Posted on 22 September 2018

dear rajive

you are correct but you have not mention in query that you have reced the advance towards service & also mention that on 4lac u have deposited gst.

 

1 Reply
On 22 September 2018 at 19:37
User Avatar

Senior Accounts Officer
1244 Points Posted on 22 September 2018
No sir I did not receive advance against Service. I received advance against goods supply
Reply
On 22 September 2018 at 20:06

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. LTCG 112A and business loss
  2. FAST-DS 2026 applicability: foreign employee share
  3. NRI Property Sale in India: TDS Rates and Key Comp
  4. Clarification on September 2026 PF Calculation for
  5. DRC-03 interest paid under CGST/SGST instead of IG
  6. GSTR1 amendment Bulk bills
  7. Capital Gain on Sale of Gold
  8. GST SALES RETURN MISSING 2025-26 FY
  9. Enquiry on FAST-DS system generated email
  10. Capital gain on sale of agriculture land

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
ARTICLESHIP 18 September 2026
Industrial Trainee

Twenty Point Nine Five Ventures Private Limited

Noida

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details