an assessee who had recd the advance in month of july against the bill raised in Aug and also he paid a tax on same in d month of july itself so will it be eligible to take a credit in month of march in GSTR3B and also where he shows the advance adjustment in GSTR1 and for same amount should be reflect in B2B coloumn or not ??
pls.....
7 Replies
Shivam Gupta
(116 Points)
Replied 09 December 2017
ITC OF GST ON ADVANCE CAN BE ADJUSTED AT THE TIME ACTUAL SUPPLY AGAINST THAT ADVANCE.
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 December 2017
No need to show the advance received / adjusted in GSTR 1 B2B section...
Enter in Table 11: Details of Advances Received/Advance adjusted in the current tax period ...
Enter in Table 11: Details of Advances Received/Advance adjusted in the current tax period ...
Shailesh C Nachanekar
(NONE )
(22 Points)
Replied 05 February 2018
What if I forgot to adjust advance in the month in which invoice against it has made in GSTR 1???
Manish kumar Rai
(Article)
(122 Points)
Replied 29 May 2018
No need to show the advance received / adjusted in GSTR 1 B2B section... Enter in Table 11: Details of Advances Received/Advance adjusted in the current tax period ...
if i not show Advance or advance adj in B2B how can we transfer tax credit to the part when goods received or service provided to the receipient.
Venkat Venkataraghavan
(15 Points)
Replied 30 April 2019
The credit will be available to the buyer through the final sales invoice entered in B2B by the seller in GSTR 1
Praveen Hegde
(2 Points)
Replied 31 December 2020
if total contract amount is 100000 and i received 25000 as advance in January month and he issued final bill in the month of February. now how can i upload in gstr 1 for the month January and February.
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