banner_ad

GSTR 1 VS GSTR 3B JULY 2024 MIS MATCHING

556 views 1 replies
Dear Team,
One of my client is JULY 2024 GSTR 1 RETURN VS GSTR 3B RETURN Some of Amount difference So How To to Rectify the GST return in March Month 2025
Please Advise me

However, in July 2024, there is a ₹4,860 excess tax liability in GSTR-3B compared to GSTR-1.

The cumulative shortfall/excess remains ₹4,860 from July 2024 onwards
Replies (1)

To rectify the GST return in March 2025 for the difference in July 2024 GSTR-1 and GSTR-3B returns, follow these steps: Step 1: Identify the Reason for the Difference - Analyze the difference of ₹4,860 and identify the reason for the discrepancy. - Check for any errors in reporting, such as incorrect GST rates, incomplete or incorrect invoices, or incorrect tax payment. Step 2: File GSTR-3B for July 2024 with Corrected Tax Liability - Since the difference is due to excess tax liability in GSTR-3B, you'll need to file a corrected GSTR-3B return for July 2024. - Report the correct tax liability, and ensure that the tax payment is made accordingly. Step 3: File GSTR-1 for July 2024 with Corrected Details - If there are any errors in GSTR-1, file a corrected GSTR-1 return for July 2024. - Ensure that all invoices are accurately reported, and the tax liability is correctly calculated. Step 4: File GSTR-9 (Annual Return) for FY 2023-24 - When filing GSTR-9 for FY 2023-24, ensure that the corrected tax liability is reported. - Reconcile the tax liability reported in GSTR-9 with the corrected GSTR-3B return for July 2024. Step 5: Pay Interest and Penalty (If Applicable) - If there's a delay in filing the corrected returns, calculate and pay the applicable interest and penalty. - Ensure that the interest and penalty are paid before filing the corrected returns. Timeline: - *March 2025*: File corrected GSTR-3B and GSTR-1 returns for July 2024. - *Before filing GSTR-9*: Ensure that the corrected tax liability is reported in GSTR-9 for FY 2023-24. Recommendation: Consult with a GST expert or chartered accountant to ensure accurate calculation and compliance with GST regulations.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details