Point (III) 9 of GSTR-9C
This query is : Resolved
28 November 2024
Dear Expert,
Kindly help me through your valuable advice.
In Point (iiii) 9 of GSTR 9C, there is reconciliation of Rate wise Liability and amount payable thereon. Here, I have an issue, whether only current FY Year's liability to be considered or any liability of Previous FY (that is paid in current FY) can be taken here.
For Example, Liability of Current FY 23-24 is Rs. 100000/-, but a bill of Last FY 2022-23 was shown in current year's GSTR 1 & 3B and liability of the same was Rs. 10000/-. So, whether the tax wise bifurcation of Rs. 100000/- required or of Rs. 110000/- (100000+10000) ?
Looking forward for your valuable support.
Kindly help me through your valuable advice.
In Point (iiii) 9 of GSTR 9C, there is reconciliation of Rate wise Liability and amount payable thereon. Here, I have an issue, whether only current FY Year's liability to be considered or any liability of Previous FY (that is paid in current FY) can be taken here.
For Example, Liability of Current FY 23-24 is Rs. 100000/-, but a bill of Last FY 2022-23 was shown in current year's GSTR 1 & 3B and liability of the same was Rs. 10000/-. So, whether the tax wise bifurcation of Rs. 100000/- required or of Rs. 110000/- (100000+10000) ?
Looking forward for your valuable support.
29 November 2024
In your example, the liability of ₹ 10000/- pertaining to the previous financial year (2022-23) was paid in the current financial year (2023-24). However, since this liability is related to the previous year, it should not be included in the reconciliation of the current year's liability.
Therefore, the correct approach would be to consider only the current financial year's liability of ₹ 100000/- for the rate-wise bifurcation and reconciliation in Point (iiii) 9 of GSTR 9C
Therefore, the correct approach would be to consider only the current financial year's liability of ₹ 100000/- for the rate-wise bifurcation and reconciliation in Point (iiii) 9 of GSTR 9C
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