Supply not reported correctly in GST3B and GSTR-1 return
Query (Issue) Started By: – Prakash Gupta Dated:- 24-11-2018 Last Reply Date:- 27-11-2018 Goods and Services Tax – GST
Got 4 Replies
GST
Dear Expert,
Need your view on below mentioned issues:
Facts of the case
Say a Company namely ABC forgot to mention a supply as well as GST liability thereon in form GSTR-3B and GSTR-1 in the month of Aug 2017, the GST liability was ₹ 100,000/-. The Company has noticed this mistake only in the month of the November 2018, while finalizing the annual return for the FY 2017-18. Further, The Company has always input tax credit balance exceeding ₹ 150,000/- during the period July 2017 to November 2018.
Query
1. Now how to rec
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y after match both returns. So wait for a new proforma for Annual Return on Common Portal.
Reply By Prakash Gupta:
The Reply:
Kasturi Sir,
Thanks for your reply. But please further light on liability of Interest question, keeping the fact that assessee has already had excess credit on supply GST in books of the accounts as well as on portal from the date of its liability , even till date it has not been utilized.
There was a bonafide mistake by the accountant while filling GSTR-3B and GSTR-1 return. However, due to mistakes of the assessee , there was no loss to revenue.
If my logic is not correct, please quote provision of the GST law, which say that set off liability on portal is GST is payment.
Reply By KASTURI SETHI:
The Reply:
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