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Works contract- advance received & GSTR-1

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Tapas Samadder

538 Points Posted on 27 August 2023

Dear Sir, a works contractor received advance for flat sale, but sales deed not made in Govt. register. How I show this advance in GSTR-1 - as advance or sale, and in 3B. pls..

Replies (2)

Quick Summary

This discussion clarifies how works contractors should report advance payments received for flat sales on their GSTR-1 and GSTR-3B. The consensus is that if the sales deed is not yet registered, the advance should be declared as an 'advance received' rather than a 'sale', specifically segregating it as intrastate if applicable.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 28 August 2023

The advance should be first segregated into Interstate and intrastate advances. The gross figure of advances received should be mentioned under Gross Advance Received/ Adjusted