Quarter April to June-21 sales turnover only

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This discussion clarifies the correct method for reporting sales turnover in the CMP-08 return for the April-June 2021 quarter. It confirms that only the current quarter's turnover should be reported. The advice also covers paying FY 20-21 tax liabilities via DRC-03 and managing current year tax through a negative liability statement.

Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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17 July 2021 A composite tax payer outward supplies tax rate wise not reported column 6 of gstr4 in f.y.20-21 negative liability show in gstr4.
Question:
Dealer composite return April-june-21 quarter sales turnover show in April to June-21 return only or previous year in 20-21 sales turnover both sales turnover show in cmp-08 return April-june 21 quarter is correct method.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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17 July 2021 Correct Method is to show April- June 2021 turnover only in CMP-08. It is advisable to pay the liability of F Y 20-21 by DRC-03 . and pay tax of current year through negative liability statement.

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Kollipara Sundaraiah

Kollipara Sundaraiah (Querist)
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18 July 2021 sir, DRC-03 challan voluntary or others 2.which section applicable 3.tax period 20-21 pay only or interest applicable

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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18 July 2021 Voluntarily under Sec 73(5)

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