Debit Note with output

Dear Sir,
Kindly guide us on this, We missed some of the debit note ( Incremental outward liabilities) belongs to Aug and dec 2023 month. Now what should we do, considered them in the current month and pay the differcial tax ??
Replies (8)
Quick Summary
This discussion addresses how to handle missed debit notes from previous months (August and December 2023) that relate to outward liabilities. The advice given is to account for these in the current tax period and pay the differential tax. It clarifies that while DRC-03 is for interest, the GST amount itself can be paid from existing credit ledger balances if sufficient funds are available. Interest at 18% per annum will be charged on the delayed payment.

Yes, considered in current month and pay the differential tax.

Sir, differential tax can be paid by drc03 - credit ledger??

DRC-03 can be filed to pay only the interest portion, If you have sufficient credit in your ledger, you can pay the GST amount from this balance and do not need to make the payment in cash.

Interest leviable??

Interest at 18% per annum will be charged from the month of actual liability to the current month in which you want to pay (June-24) (August to June 2024 or December to June 2024, as applicable to your case).

Ok sir, Thank you so much for you time

Okay, you're welcome

Interest leviable

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