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Import Value Difference
In FY2019-20 purchase import value wrongly taken as per shipping bill due to which there is variation of around 8 lakhs in FY 2019-20. Turnover was around 3.5 crores in that year. Now how to I rectify this? Experts please guide.
Replies (1)
Since you cannot edit the filed GSTR-9, do not attempt to file a "corrected" return as the portal does not allow it. Instead, use Form GSTR-9C to disclose the discrepancy in your reconciliation statement to align your GSTR-9 with your audited financial statements, and use Form DRC-03 to pay any missed tax liability with interest. Always maintain detailed working papers for your records.
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