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Advance received

16 December 2018

1)Sir, is Advance taxable received advance on 30-11-2018
2)if i show the amount for filing of 3B in the month of January, not showing in the month of December.. because the rest amount due will be received in December...

Is this correct?? if not what is the correct way..

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3 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 16 December 2018

Advance received is against Goods sale or service provide ?.

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Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 16 December 2018

First of all if advance against Goods then no need to show as its being abolished by vide Notification 66/2017 CT.

yes if its against supply of services & reced on 30/11/2018 , GST is applicable & to reported in Dec18 3B