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Advance Recieved in March 2019
A party has placed an order and has given Advance in the month of March 2019...This material is be delivered in May 2019...GSTR 1 of March 2019 is pending ..Can this amount be shown as ADVANCE in GSTR 1 of March 2019...( amount paid is inclusive of GST...taxable value is be calculated from above. )
Replies (4)
Is it's Received for Goods or Services...?!
Advanced received for goods is excempted only for service it is applicable
advance received for goods....
If goods then no need to pay GST Tax for advance receipt.
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