Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

March 2021 Contract Tunrover Not SHwon in GSTR -3B Till Now

285 views

Save Share

Libissa

Accountant

265 Points Posted on 28 December 2021

I have not shown Turnover Rs.10000000/- contract value in 2020 - 2021 GST and i have filed my GST retruns Till Nov 2021 now only i know that i have not shown that amount and can i show the amount in GSTR 9 annual retrun and pay the output tax Rs.1200000/- through ITC bills in DRC - 03 i am having excess upto 600000/- in ITC at the end on March 2021 and pay the balance through cash along with interest in annaul return kindly suggest me do the needful

Replies (3)

Quick Summary

This discussion addresses a situation where a significant contract turnover from the 2020-2021 financial year was not declared in the GSTR-3B returns filed up to November 2021. The user seeks guidance on how to rectify this omission by including the turnover in the GSTR-9 annual return. They also inquire about paying the associated output tax of Rs. 12,00,000, potentially using available ITC and paying the balance through cash with interest via DRC-03.