Advance received to party

This query is : Resolved

Haren (Querist)
Follow

22 January 2022 Note that we are a register (In GST) manufacturing Company , this month(i.e. Jan,22) we gave a Quotation for Modification Charge Purpose to Interstate Party ( who Register in Gst) Rs. 94,400.00 (Including GST 18 %) as 60% ADVANCE basis and after received Interstate Party also paid the ADVANCE rupees (60%) Rs. 56640.00 as per our terms .

Now our question is we will shown this Advance Rs. 56640.00 in GSTR1 & GSTR3B Jan,22 return in if yes then please send us procedure and how to adjust next month this amount when Invoice will done because GSTR 3B now create autofill the data……

CA Altamush Zafar

CA Altamush Zafar (Expert)
Follow

23 January 2022 Yes since it is service you will have to pay GST on advance and show it in your GST returns. For full procedure engage a professional. It should be a paid service.