can I do the tax adjustment of last year during this year.
Actually some IGST turnover was shown in States turnover by mistake last year. we made the IGST payment also last year when identified, but the payment that was made as SGST & CGST against same sale could not be adjusted as we had the idea that 3b cant be revised. GSTR1 was correctly filed. Can we adjust the excess CGST & SGST this month by showing less state's turnover this month by the same amount that was shown in excess during last year by mistake.
please suggest.
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GST excess paid in last FY
Replies (4)
Don't show less turnover but show net tax
sir are you sure that we can pay net GST while on other side showing Actual Turnover ?
if I dont show less turnover than turnover amount would remain uncorrected & moreover it will give idea of short tax payment.
I need an expert opinion whether such things can be corrected or carried forwrded to next FY for correction.
I need an expert opinion whether such things can be corrected or carried forwrded to next FY for correction.
the excess tax amount paid by you is to be reflected in your electronic cash ledger. The excess amount in electronic cash ledger can be claimed as refund withing 2 years of the date of payment by submitting a refund application form RFD-01A.
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