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advances received in GST
advances received in gst regime is liability fulfilment in itc adjustment or payment in cash?
Replies (5)
if you have balance in your credit leader, it will be an adjustment otherwise it will be a cash payment
the liability treated same as outward supply liability
thanks sir,
we need to upload the tax invoices for advances.
how to create liability?
on gross amount or reverse calculation?
we need to upload the tax invoices for advances.
how to create liability?
on gross amount or reverse calculation?
thanks sir,
we need to upload the tax invoices for advances.
how to create liability?
on gross amount or reverse calculation?
we need to upload the tax invoices for advances.
how to create liability?
on gross amount or reverse calculation?
reverse calculation but don't have to report in invoice tab . have a separate series for advance receipt and report in advance receipt tab of gstr1
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