Earnest money
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2017
GSTR-1....... How a real estste company can show its earnest money (advance money) received in gstr1 because it is not a sale as for now. Please guide me.
14 October 2017
Earnest money deposit is nature of refundable deposit. it cannot be treated advance against supply or service. so no need to show in GSTR
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 October 2017
And what about advances ?
14 October 2017
In GSTR-1 return column No.11 has the place to show the Consolidated statement of advances received and further adjustments
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