Dear Experts,
I'm working in pvt ltd window n glazing manufacturing company. We have received amount from Debtors Rs.70 Lacs by cash advance against project. How to accounting rule and returns.
Regards
Sathis Kumar
sathis (accounts executive) (311 Points)
16 March 2022Dear Experts,
I'm working in pvt ltd window n glazing manufacturing company. We have received amount from Debtors Rs.70 Lacs by cash advance against project. How to accounting rule and returns.
Regards
Sathis Kumar
satish kumar Chauhan
(accountant)
(347 Points)
Replied 16 March 2022
No GST payble on Advance received from customer, but you can not accept in cash 2.00 Lac a customers.