For the month of July, August and September, I have to file GSTR 1 and GSTR 3B. But the problem is I haven't collected any taxes from my customers ( since I thought I was in the composition scheme and just have to pay 1% as the tax on my total turnover. Why I thought that I was in composition scheme, that is altogether a different story), so I am not able to figure out what should I write as taxable amount, tax rate and all other things in my returns. Another problem is whatever I will put as the taxable amount and tax rate, according to that tax rate I would have to pay from my own profit since that amount I haven't collected from the customers. So now how should I file my returns? Any help in these direction would be highly appreciated.
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File gstr-1 incase no tax is collected
Replies (10)
Whatever u collected from ur customers is inclusive of GST.... Plz make back calculations... Suppose GST RATE is 5% then ur taxable turnover is =Total amount collected *100/105 and GST is Total amount collected /105*5
Whether u collect gst from ur customers or not is not relevant.... Pay GST at applicable rate on total amount received supposing that inclusive of GST u hv received
@ Divakar, wouldn't then the calculated gst I will have to pay from my profit value ?
At what rate you have issued taxable invoice ? By the reason, you have not collected the amount from customer will not reduce liability on your part to file the return.
Only to the some extent it is from ur profit... Profit *GST rate from ur own pockets.... Bcz u take itc on purchasing... That is ur fault not collected gst from customs... Bdw MRP includes all taxes... Whether u sold goods on reduced rate from earlier?? Nahi na.... Then how it is from ur pocket
U hv to pay gst on applicable rates... No matter whether u collected or not.... Amount received from customers is inclusive of GST
kishu agarwal ji this is your mistake you have to pay tax from your pocket...
Thing is I was in the composition scheme before 1st July and so I never have collected taxes. When I migrated to GST, then I mistakenly forgot to click on the composition scheme, and thus got converted into regular but later in September I again switched back to Composition scheme when the option came.
But at the time of opting composition scheme they ask applicability date... U hv to pay taxes... Claim ur itc... U hv not sufficient itc??
@ Divakar, I will have to see about how to claim itc. I haven't claimed itc till now.
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