DPT 3 SERIES | ADVANCES FROM CUSTOMERS
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For opening balance of Advance from Customer which is adjusted against sale whether it is to be shown in repaid or adjustment as we have invoiced the advance of opening balnce
if there was advance opening and you delivered goods or services during the year. then show it in repaid or adjustment as per your convinience.
Sir, where to report the Invoice issued against opening advance during the fy2022-23. I.e. in repaid coloum or any other adjustment?
If you have already provided services and issues invoices. No need to mention in DPT-3.
Sir, if in case of advance received from customer against a supply of goods or services if we return that advance received amt without providing any supply of goods and services to customer then what will be the compliance in DPT-3?
If you have returned it before 31 March. then there is no impact on DPT3.
sir if i have received payment in Apr -22 and sale bill made in may 22 , still i have to report in dpt-3? as there are columns advance received, repaid and any other adjustment.
According to me you can avoid this transaction in DPT-3.
In case of private company.. if company received money as advances from customer and not repaid that amount within 365 days then how to fill dpt -3 ( we have to show deposits) ?
Then no need to mention the same in DPT-3. if it was not outstanding as on 31 March.
@@fcsdiveshgoyal564sir it was outstanding as on 31st March
Suppse if advance recd in aug 22 and that is outstanding as on mar 23 and also outstanding on date of filing dpt 3;
and we are filing form dpt3 in jun 23 so as on filing date how do we know that in future whether we will supply service or return such amount even in future we will provide service within 365 days?
As on 31 March. it was advance and 365 days was not crossed. so you have to show it in DPT3. In future if you will not supply service within 365 it will be consider deposit and penalties shall be levy.
@@fcsdiveshgoyal564 Okay so basically it wouldn't be disclosed anywhere in dpt 3?
Sir in case of
return for deposits- advance not appropriated within 365 days shall be reported
For return other than deposits- advances which are appropriated within 365 days shall be shown
But as we have to consider the balance as on 31st march what about the advances where neither 365 days have expired nor appropriated or paid off?
where to show unsecured loans from unrelatives?
Sir If advance received in Jan 2023 and billed in may 2023
It means as on 31 mar 23 was showing advance
Is it covered in dpt 3 or not
Because billed within 365 days
But as on 31 mar was an advance
you can show as advance in DPT-3.
@@fcsdiveshgoyal564 Divesh Sir, in this case is it mandatory to file DPT-3 even though it's billed in May 2023?
1. during the year amount has been received as advance and sales made to them. How to report?
2. Amount received 50 times in a year and 49 times sales has been made. what to report in DPT 3, only that amount as receipt which is not adjusted?
If advance received and during the year goods/ service supplied then no need to report hte same.
2. Report only the advance pending. No issue according to me.
Hellos sir, if advance is against bank guarantee and more than 365 days then whether it will be treated as non compliance for private limited companies?
Sir please make video on CC and OD facilities of company and how to give ageing???
Sure. I will do the same.
Sir
Please make video cc limit & od facilities
What if its a public company?