GST Tip – 251

As per the latest GST Returns, In Table 11 B of GSTR – 1, tax invoice issued during the return filing period will be shown for which advances have been received in the previous months. It will be grouped by rate wise for the interstate and intrastate supplies.

GST Tip – 91

After the Receipt of advance from the customer, the tax invoice issued by the supplier and the recipient or customer cannot take input tax credit from this tax invoice/receipt voucher. The input tax credit can be taken on the tax invoice issued for the supply of goods or services for the whole value of the supplies including the tax paid on the advance. The tax invoice issued during the supply of goods or services has to be reported in Table 12 of the GSTR – 1, along with the reference number issued during the receipt of advance.