• About advance received

Advance rec’d was only mentioned in GSTR1  of  Aug. 2017  but no tax liability paid. 

Oct 2017: tax liability paid only on the remaining amount ( supply in this tax period) and invoice value was also of the remaining amount not the full amount. 

Now in March: Paid the tax liability of this Aug. ‘17 advance recd in GSTR 3B of March'18. In GSTR 1 of March'18  what shd I do? I have amended the invoice of October 2017 to show the full amount and now which tile should I use  to show advance adjusted?

Should I mention this in 11A- Amended Tax Liability ( since I paid the tax on the Aug. advance in this month) or in 11B - Amendment of Adjustment of advances?

Thank you,
S. Kochhar
Asked 5 months ago in GST from Mumbai, Maharashtra
I think you need to amend the invoice with full amount and put advance figure in adjustment of advances. After all this reconcile all the figures with GSTR 3B of March 18. If it doesn't reconcile then we will find out more.
Vivek Kumar Arora
CA, Delhi
1531 Answers
35 Consultations

5.0 on 5.0

You need to pay interest @18% from September 17 till March 18.
Vivek Kumar Arora
CA, Delhi
1531 Answers
35 Consultations

5.0 on 5.0

hii

you have to pay interest on delay payment of tax in the month of April GSTR3B and also have to make reconciliation of the same which will help you at the time of filling annual return.
interest liable to pay is upto march.
Lalit Bansal
CA, Delhi
559 Answers
37 Consultations

5.0 on 5.0

Enter the full invoice amount in tile 9A (Amended B2B invoices) and for advance enter the amount in 11B (Adjustment of advances). This is the only specific answer. If still you are in doubt you can call me on 7060029944.
Vivek Kumar Arora
CA, Delhi
1531 Answers
35 Consultations

5.0 on 5.0

It is advisable to get in touch with consultant in person ,well versed with GST laws.
Swati Agrawal
CA, Indore
667 Answers
1 Consultation

5.0 on 5.0

You may want to consult a professional face to face so that your queries are resolved as per your satisfaction.
Nikhil Khanna
CA, Mumbai
1286 Answers
14 Consultations

5.0 on 5.0

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