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GST

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This query is : Resolved

Quick Summary

When preparing your GST annual return, you've discovered you paid excess tax under Reverse Charge Mechanism (RCM) and claimed the input tax credit. Specifically, you paid £68,300 instead of the required £65,300 for freight inward from a GTA. This guide helps you understand the steps to correct this discrepancy in your annual return.

Krishna Joshi

Krishna Joshi (Querist)
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22 October 2020 AT THE TIME OF PREPARING ANNUAL RETURN OF GST I HAVE FOUND THAT I HAD PAID EXCESS TAX UNDER RCM AND CLAIMED THE SAME INPUT. WHAT SHOULD DO.

PLEASE SUGGEST ME.

Lekhraj sood

Lekhraj sood (Expert)
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22 October 2020 What is the amount involved?

Krishna Joshi

Krishna Joshi (Querist)
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22 October 2020 I HAVE TO PAY - RS 65300 UNDER RCM FOR FREIGHT INWARD FROM GTA, BUT I HAVE PAID- RS 68300 AND TAKE THAT INPUT. SO WHAT SHOULD I DO IN ANNUAL RETURN

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