Is it mandatory to match of TDS amount credited with GSTR 3B AND FILED BALENCE SHEET

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This query is : Resolved

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This discussion explores whether the TDS amount credited in Form 26AS needs to precisely match the figures reported in GSTR 3B and the filed balance sheet. While a direct match isn't always mandatory for TDS credit, it's crucial that your declared taxable supplies in annual GST returns align with your Income Tax Return (ITR) turnover. The general consensus is that your sales figures for both income tax and GST should reflect the actual settled transactions.

bhaskarreddy

bhaskarreddy (Querist)
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18 November 2021 Hi experts

i have one quary please give me solution to me so basically TDS CREDIT AMOUNT IN 26 AS and GSTR 3B TAXABALE VALUE AND Has filed Income tax Revenue It should match with TDS credited amount or not it has mandatory or not ? please give me solution

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 November 2021 TDS credit in form 26AS is not reflected in GSTR. But the taxable supply in annual GSTR should match with the turnover declared in ITR.

bhaskarreddy

bhaskarreddy (Querist)
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18 November 2021 ok sir fine

suppose in my 26 as amount credited 2,00,000 lakhs and tds receievd 20,000 ok ,next I will show in my Income Tax has 1,50,000, has revenue and In GSTR 1 will show 1,70,000 sales so this is way is correct or wrong there is no matching for REVEENUE So this has fine or any promblem sir

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 November 2021 For income tax and GST your sales will be 2 lakhs (provided the transaction is settled)

bhaskarreddy

bhaskarreddy (Querist)
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18 November 2021 OK SIR FINE THANK YOU

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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18 November 2021 Most Welcome...

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