Mr. A has credit in the month of August - 2021, there were some invoices which were not taken into consideration while filing GSTR 1 or GSTR 3B. Mr. A notice the same in the month of December - 2021 after filing GSTR 1 of November - 2021. Now Mr. A wants to upload those invoice and the same will be uploaded in GSTR 1 of December - 2021 and Tax will be added to GSTR 3B of November - 2021.
Now Mr. A wants to setoff Tax liability of the same against the credit ledger my questions are
- will he be able to do so or any tax liability along with Interest on the same will need to be paid in cash? (he have enough balance to setoff tax liability out of credit ledger from August to October )
- Is he liable to pay interest (notice does not received from department u/s 73 and 74) when he have enough amount in credit ledger?
- if he liable to pay interest then at what rate and for which period i.e. from invoice date or from GSTR 3B due date?
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