ITC9C differences

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Executive
207 Points Posted on 06 January 2023

Hi what if in GStR 9  we show ITC availed as per audited financial statements more than the ITC CLAIMED IN ANNUAL RETIRN 

WHAT WILL BE EFFECT DO MY CLIENT NEED TO PAY ANY PENALTY OR INTEREST FOR SHORTFALL IN GSTR9

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On 06 January 2023 at 09:08 Report
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Quick Summary
This discussion addresses discrepancies between Input Tax Credit (ITC) shown in audited financial statements and the ITC claimed in GSTR-9. It explores the implications of these differences, particularly when reporting a short claim in Table 12(f) of GSTR-9C. The core concern is whether such reconciliations will lead to penalties or interest payments for the client.

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QUALIFIED CHARTERED ACCOUNTANT
613 Points Posted on 06 January 2023

You need to give ITC reco in Table 12 of GSTR 9C

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On 06 January 2023 at 10:38
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Executive
207 Points Posted on 06 January 2023

Thanks what if we show short claim in 12(f) gstr9c 

Jn reconciled ITc will that have any impact I mean paying penalty or interest 

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On 06 January 2023 at 11:23

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