GST payment for previous FY

198 views
User Avatar

student
26 Points Posted on 26 November 2020
For the f.y 19-20...IGST payment was made which should have actually paid in CGST and SGST ....how do I make the adjustment
0 Reply Share Follow
On 26 November 2020 at 16:01 Report
Replies (4)
Quick Summary
This discussion addresses how to correct a Goods and Services Tax (GST) payment where IGST was mistakenly paid instead of CGST and SGST for the financial year 2019-20. The recommended approach is to pay the correct CGST and SGST now, either through GSTR-3B or DRC-03, and then claim a refund for the incorrectly paid IGST. It's important to ensure these adjustments are correctly reflected in your GSTR-9 and GSTR-9C filings.

User Avatar

GST consultants
89 Points Posted on 26 November 2020

Below are the options : 

1. Pay CGST+SGST and adjust IGST in GSTR3B - not suggested since September 2020 is the time limit to make adjustments in 3B; 

2. Pay CGST+SGST through 3B and opt for refund of IGST. 

3. Pay CGST+SGST through DRC-03 and opt for refund of IGST - suggested since filing DRC-03 will ensure no penalties can be levied in the future. 

Both options 2 and 3 can be considered. 

Ensure to disclose correctly in GSTR9 / 9C. 

2 Reply
On 26 November 2020 at 16:24
User Avatar

Student
23693 Points Posted on 26 November 2020
Pay the CGST and SGST now and apply for Refund of IGST. Note that no interest or late fees will be levied for the payment of CGST & SGST now.
1 Reply
On 26 November 2020 at 20:12
User Avatar

student
26 Points Posted on 26 November 2020
Thankyou.
Reply
On 26 November 2020 at 20:14
User Avatar

INCOME TAX PRACTITIONER
1329 Points Posted on 26 November 2020

SIR,

Is that for 2018-19 difference in tax (i.e 2018 april we have a difference for sales ( cgst- sgst ) declared in 3B is shorter than GSTR 1 around 20000/-) now I need to pay with interest from 2018 may 22 to till date right?  which challan need to use?

 

Reply
On 26 November 2020 at 21:25

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Demand of Late fee/Interest under section 75 of GS
  2. DSC registration on TRACES portal
  3. Can we get registered for MCA if we get a Virtual
  4. DONATION PAYMENT REG
  5. GST IDS Refund – Statement 01A: Invoice Not
  6. TDS deposit code & TDS return
  7. AIS VS GST Mismatch- FY 2025-26
  8. Gross total income
  9. Export Compliance
  10. Sale of plots in open land

More recent discussions | Post

Related Topics :

Loading