GST Variance in IT

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Accounts & Tax Consultant (Querist)
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11 May 2023 Respected Experts,

While preparing Financial Statements of one of my friends Prop Business, i observed that he has erroneously omitted few Sales Transactions in GST, which resulting variance between IT Turnover and GST

It is a Non Tax Audit Case

Since we are declaring 100 % Actual Sales in Income Tax, will there be any consequences for the variance happened in GST?

Kindly advise

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 May 2023 File GST annual return and report right GST turnover..
Notice may be issued from GST department.

Accounts & Tax Consultant

Accounts & Tax Consultant (Querist)
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12 May 2023 Respected Sir,

Thanks much for the valuable response !

Hope there will not be any issues from Income Tax Point of view

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 May 2023 Income tax you reported higher turnover hence no issues.

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