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

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Accountant
337 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

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On 28 December 2021 at 18:44 Report
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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.

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GST Consultant
15986 Points Posted on 28 December 2021
Yes pay through drc-03. But make payment before filing gstr9
1 Reply
On 28 December 2021 at 22:45
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CA
1258 Points Posted on 21 January 2022

You can make payment via DRC-03. 

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On 21 January 2022 at 14:12
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Chartered Accountant
5010 Points Posted on 21 January 2022

Yes you can report the missed turnover in your Annual Return and pay the taxes accordingly.

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On 21 January 2022 at 15:24

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