ITC Unmatched with GSTR-2B and Huge Demand Notice Issued

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accountant
225 Points Posted on 03 March 2021

For The Month of JANUARY - 2021 ----

Our ITC Unmatched with GSTR-2B --- of Rs. 575000/- -----

Due to Some Invoices are not  yet uploaded at  GSTR-1 by  Supplier ----

Supplier confirmed that He will upload the same within 2 days

Today  GST Superintendent  came and verified ----

Issue a Demand Notice Rs. 575000/- with Interest  and directed us we have to deposit 

this amount tomorrow

Question :  This is Justified ???? What is GST Rule ?

please reply

 

 

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On 03 March 2021 at 20:53 Report
Replies (4)
Quick Summary
A business received a GST demand notice for Rs. 575,000 due to Input Tax Credit (ITC) unmatched with their GSTR-2B. This occurred because suppliers hadn't uploaded their invoices. Despite the supplier's promise to upload within two days, the GST Superintendent issued the demand notice immediately, requiring payment with interest. The discussion questions the justification of this action and seeks clarification on GST rules regarding such situations.

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287 Points Posted on 03 March 2021
How much ITC reflected in your GSTR2B
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On 03 March 2021 at 21:45
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Chartered Accountant
16188 Points Posted on 03 March 2021
What is itc shown in 2b?
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On 03 March 2021 at 22:16
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656 Points Posted on 04 March 2021
Rule is correct. action of officer is wrong. can claim in next month.
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On 04 March 2021 at 05:23
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287 Points Posted on 04 March 2021
First calculate how much ITC reflected in your GSTR2B based on that calculate provisional ITC 5% as per Rule 36(4). if ITC availed is >5% then you can pay the demand with interest 24% p.a. next month you can reavail the same after reflection in your GSTR2B. you have 30 days to pay the demand
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On 04 March 2021 at 07:13

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