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 ?
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Advance receipt under GST
Replies (12)
advance received from supplier its accounting treatment /experts/details.asp?mod_id=2572199
1.Yes
2.Yes
3.No time limit
2.Yes
3.No time limit
what if not mentioned in GSTR3B
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
Yes you have to pay interest on balance liability.
what if I have GST credit available with me
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
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
Whether advance receipt details be displayed in the Invoice?
Yes.......
Is there any discrimination as wholesaler or retailer.
No...........
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