Dear Experts,
We are having a query regarding the inclusion of receipt of advance (Table 11A) & adjustment of advances in Table 11B in HSN summary (Table 12) of GSTR-1.
As if we are not showing advance receipt & adjustment of advance in HSN summary it will not match with total tax liability as per GSTR-1.
Thanks in advance.
Clarifying GST Return Reporting: Advances in Tables 11A, 11B Must Align with Table 12 HSN Summary for Accurate Tax Reconciliation A discussion forum query explores the proper reporting of advance receipts and adjustments in GST return (GSTR-1). The key issue is whether advances in Tables 11A and 11B should be reflected in Table 12 (HSN Summary). The consensus is that advances should be included to ensure accurate tax liability reconciliation, with recommended tracking of HSN-wise classification and tax calculations for each advance received and adjusted. (AI Summary)
TaxTMI 
TaxTMI 
