GST Turnover mismatch

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A firm has a GST turnover mismatch because a credit note issued in Q4 of the previous year wasn't reflected in their GSTR-3B due to insufficient outward supplies. This has created a discrepancy between their GST figures and what's reported in their ITR, even though TDS and ITR figures align. The advice given is to adjust this mismatch during the GSTR-9 filing. There's a question about whether to report the GSTR-3B figure or the GSTR-1 figure in the ITR's GST schedule, with the consensus leaning towards reporting as per GSTR-1 and the annual report, as GSTR-1 details outward supplies.

k chakraborty

k chakraborty (Querist)
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25 June 2024 during previous year the firm did a consturction contract work for govt. and raised gst invoice (first quarter). later during final payment it was found out there was a measurement discrepency hence we received 5000 less than actual receivable, the same was roported in gstr 1 for quarter Jan-March through a credit note. However due to lack of outward supply in that quarter we could not actually claim the amount reflected in the credit note in the GSTR 3B, resulting in GST turnover showing (actual +5000). Though there will be no issue of turnover mismatch with TDS and ITR, There will be a discrepancy b/w turnover to be reported in ITR and as per GST. What to do? we have not filed yet.FOR clarification we file gst under QRMP scheme

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 June 2024 No problem adjust it in GSTR 9 filing.

k chakraborty

k chakraborty (Querist)
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28 June 2024 sir, as the schedule GST of ITR 5 asks to report annual value of outward supplies based on the figures reported in monthly GST returns, should we report here figure as per GSTR3B? i.e without considering the credit note reported in GSTR1, as it is not claimed in GSTR3B; or should we report as per GSTR1 and annual report?
My question is based on the fact that as per GST law GSTR3B is the return, and GSTR1 is the details of outward supplies (not return?).

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 June 2024 GSTR 1 is a GST return for outward supply.
Report as per GSTR 1 and annual report.

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