GST claiming

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This discussion addresses a common GST query where sales are recorded at 18% but investors are filing returns at 12%. The advice given is to first verify the correct GST rate applicable to the product or service. If the rate is indeed 12%, accounts should be rectified. If the rate is 18%, the difference of 6% must be recovered from the purchaser or borne by the business, as direct claims from the government for such discrepancies are not possible.

Chicku

Chicku (Querist)
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10 November 2022 If in tally sales is booked on 18% and we are also filing 18% return but investors is giving 12% GST, then how to claim 6% gst

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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10 November 2022 Check whether GST rate over the product is 12% or 18%.
If 12%, rectify your accounts.
If 18%, get the excess amount from the purchaser.

Chicku

Chicku (Querist)
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10 November 2022 It comes under 18% (service)
But investors filing return at 12%
Is there any other way to claim GST from govt?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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10 November 2022 No. You have to collect it from the investors, or pay from your own pocket.

Chicku

Chicku (Querist)
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11 November 2022 Thank you so much Sir

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 November 2022 You are welcome ..