1. Whether details of advance receipt is to be given in GSTR3B also ?
2. Can I adjust GST on advance receipt from GST credit ?
3. Is there any time limit to adjust advance receipt from customer against sale or it can be adjust at any time ?
12 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 18 September 2017
advance received from supplier its accounting treatment /experts/details.asp?mod_id=2572199
Vijay Patil
(139 Points)
Replied 18 September 2017
Sir,
when you file GSTR 1 GSTN will compare it with GSTR 3B.
This may lead to difference and notice to pay interest
You can refer Circular No 7 of CGST Dt. 01 Sep 2017
when you file GSTR 1 GSTN will compare it with GSTR 3B.
This may lead to difference and notice to pay interest
You can refer Circular No 7 of CGST Dt. 01 Sep 2017
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 18 September 2017
Yes you have to pay interest on balance liability.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 18 September 2017
No Int to be paid.
GSTR-3B is only provisional return. You can correct details in GSTR-1,2&3
GSTR-3B is only provisional return. You can correct details in GSTR-1,2&3
Vijay Patil
(139 Points)
Replied 18 September 2017
sir,
Interest will be applicable as balance in electronic credit ledger shall utilised towards payment of interest by debiting to electronic credit ledger
I have to check whatever their is any notification for not charging interest for mistakes on GSTR 3B
As far as my reading only Late filing fee has been waived vide Notification no 28 Dt 01 Sep 2017
Interest will be applicable as balance in electronic credit ledger shall utilised towards payment of interest by debiting to electronic credit ledger
I have to check whatever their is any notification for not charging interest for mistakes on GSTR 3B
As far as my reading only Late filing fee has been waived vide Notification no 28 Dt 01 Sep 2017
A.LAKSHMI NARASIMHAN
(TAX CONSULTANT)
(41 Points)
Replied 21 September 2017
Whether advance receipt details be displayed in the Invoice?
A.LAKSHMI NARASIMHAN
(TAX CONSULTANT)
(41 Points)
Replied 22 September 2017
Is there any discrimination as wholesaler or retailer.
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