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Dr03 payment for input tax repayment

164 views 3 replies

MIDHUN E

ACCOUNTANT

61 Points Joined June 2010

Dear Sir's / Mam.

I had received a notice from Gst dept to pay Tax input March 2019 Gst input on Closing stock.

I opted to compostion scheme from April 2019 onwards, So pls guide me how to pay closing stock input tax via DR03.

Thanking You.

Replies (3)

Rama chary Rachakonda

Master in Accounts & high court Advocate

8996 Points Joined December 2011

Paying Tax on Closing Stock via DRC-03 To pay tax on closing stock via DRC-03:

1. *Determine the tax liability*: Calculate the tax liability on the closing stock as of March 31, 2019.

2. *Fill DRC-03*: Fill the DRC-03 form online on the GST portal, providing the required details.

3. *Select the correct tax head*: Select the correct tax head (CGST, SGST, or IGST) and the applicable tax rate.

1 4. *Make the payment*: Make the payment online through the GST portal using the "Pay Tax" option.

Additional Requirements - *Challan generation*: Generate a challan (CIN) after making the payment. -

*Documentation*: Maintain documentation, including the DRC-03 and challan, for future reference.

*Verify payment details*: Verify payment details, including the tax head, tax rate, and amount, to avoid any errors.

By following these steps, you can pay the tax on closing stock via DRC-03.

MIDHUN E

ACCOUNTANT

61 Points Joined June 2010

Thank you

sabyasachi mukherjee

27912 Points Joined May 2017

First determine the last return filed. If it is successfully filed then on the basis of that pay tax liability . Fill up the firms and file the currentbreturns.