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Government Contract TDS received on Dec 2020 Can i shown in Jan 3B

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Libissa

Accountant

265 Points Posted on 17 February 2021

I have received government contract cheque Rs.1068000 TDS 2% Deduct From Department on Dec 2020 and i have not sufficent ITC in Dec 2020 can i show the Turnover in Jan 2021 - 3B along with Dec ITC and Jan ITC and file the retrun any interest or penalty will declare from officer for not showing the turnover in Dec and utilising the ITC of Jan kindly do the needful

Replies (2)

Quick Summary

A business received a government contract cheque in December 2020 with TDS deducted, but didn't have enough Input Tax Credit (ITC) to offset it. They are asking if they can report this turnover in their January 2021 GSTR-3B filing, using both December and January's ITC. The concern is about potential interest or penalties for not declaring the turnover in December and clarification is sought on how to handle amended returns for late-reported invoices.

Rama chary Rachakonda

Master in Accounts & high court Advocate

7021 Points Posted on 17 February 2021

Amendment of missing Invoices reported later by the supplier shall be carried out through amendment return of the relevant tax period to which the Invoice pertains to.

For Eg: Invoice of April if uploaded in September shall get amended with the amendment of return for the month of April only

Libissa

Accountant

265 Points Posted on 18 February 2021

Sir thanks for reply but i dont understand what u are telling please tell again with example in GSTR -1 only amendments i am going to file 3b with iTC of Dec & Jan