March 21 GSTR return
This query is : Resolved
23 April 2021
Advance was received from party during f y 20-21 but final bill was not prepared till Mar 21. GSTR 1 For March 21 has been filed without considering GST on advance received. Party has deducted TDS from advance and will reflect in Form 26AS
GST Input credit has also been taken in GSTR 3B for work for which above advance was received
GSTR 3b of March 21 is not filed as yet
My question is what can be done to correct the above error ?
GST Input credit has also been taken in GSTR 3B for work for which above advance was received
GSTR 3b of March 21 is not filed as yet
My question is what can be done to correct the above error ?
23 April 2021
1) Has the ITC been availed by the recipient/buyer even before the supplier has issued the invoice?
2) Advance received towards supply of goods or services?
2) Advance received towards supply of goods or services?
23 April 2021
ITC has been availed on the basis of Invoices of Supplier
Advance received is towards sale of services
Advance received is towards sale of services
23 April 2021
1) If the invoice was generated in March 2021 and the same was not included in GSTR1 for March 2021, then you may add the missing invoice in the next GSTR1.
2) Since GSTR3B is yet to be filed, you may add this liability in it and pay tax with interest (from date of receipt of advance till date of payment) on the missing transaction.
2) Since GSTR3B is yet to be filed, you may add this liability in it and pay tax with interest (from date of receipt of advance till date of payment) on the missing transaction.
24 April 2021
Yes I will also agree with Ms. Poornima, report the advance in GSTR 1 for April 2021.
Further add the liability manually in GSTR 3B of March 2021
When in April 2021 you get query because you will not be reporting it again in GSTR 3B of April 2021 then reply that you have already paid the liability in March 2021
Further add the liability manually in GSTR 3B of March 2021
When in April 2021 you get query because you will not be reporting it again in GSTR 3B of April 2021 then reply that you have already paid the liability in March 2021
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