Suppose i am a contractor and i have got a contract of 10,00,000 and when i started working i am getting payment in installment as my work goes to completion stage and final bill will be issued after completion. so my question is whether i have to file all the gst return NIL till the completion of contract or i have to file 3b on payment basis and at the time of completion final invoice will be shown in that periods gstr1??
Please explain me
4 Replies
Surjeet Kumar
(67 Points)
Replied 12 March 2019
i think on the basis of payment (Avance) or invoicing whichever is earlier...
Ayaz Ansari
(39 Points)
Replied 12 March 2019
Thank you Mr Surjeet sir, So as i got the payment i have to reverse the received amount and then pay tax and then file 3b. is it right please suggest
pritesh
(CA Final student)
(7101 Points)
Replied 12 March 2019
since provider are required to pay tax on advance...so when you received payment you have to pay tax
shailendra shukla
(Bhopal)
(1741 Points)
Replied 12 March 2019
better to issue invoice at each payment....... in this way you can take the value in 3b as well as gstr 1
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