GST on advances received
Jeetendra Mehta (114 Points)
14 August 2017
How to declare and which column is applicable for the advances received and tax liability in GSTR3B return?
2 Replies
Deepak Gupta
(CA Student)
(15922 Points)
Replied 14 August 2017
Under 3.1 (a) outward taxable supplies
Value of Taxable Supplies = Value of invoices + value of debit notes – value of credit notes + value of advances received for which invoices have not been issued in the same month – value of advances adjusted against invoices.
Details of advances as well as adjustment of advances against invoices are not required to be shown separately.
Jeetendra Mehta
(114 Points)
Replied 16 August 2017
But in Tally, these advances doesn't get included in GSTR3B computation. So what's the solution?
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