March Invoice not in AS26

325 views 8 replies

I went into independent consulting beginning April 2021 till now.

My monthly billing for consulting services was fixed at 2 Lakhs.

For April 2021 services; i raised invoice in first week of May 2021..and so on

effectively invoice was raised next month for each month services.

 

MY AS26 looks like

 

pls see attachment

 

Now from GST perspective it was fine as invoice date was used for GST returns.

 

But for March 2022; I raised invoice in April 2022 for work done in march 2022 with invoice date of 3rd April 2022.

So basically March 2022 billing / revenue is missing in AS26 as company who took my services did not recognize.

 

If i recognize March 2022 Billing (for which invoice is raised in April 22) revenue in FY 2021-22; TDS won’t match and form 26AS would differ. but Accrual probably requires me to account for in FY 2021-22.

 

Your thoughts Pls.


Attached File : 39125 20220708211215 3.jpg downloaded: 56 times
Replies (8)

attachment was missing hence added now

Recognize income in current year only

But the challenge is Its not shown in AS26 and Form 16A. so ultimately i will end up showing revenue without TDS benefit. Also difference between As26 and reported figure might be issue.

So confused.

No worries, same will be available in next year and then you have to submit only one thing that already recognised in earlier year.


Also show actual GST turnover in ITR (do not add this invoice)
Since date of invoice is in April , 2022 , it has to be considered for 2022-23 FY
You may considered it on accrued basis
As per practical approach, 26AS and GST turnover should match to avoid notices. And you can follow the invoice date ..

Even for accrual also you have to be in line with GST rules .

There is time for issuing invoice under GST .
You may skip for March and account it in April
Same is shown in next year , so it is in line with GST also. There is option in 9C also to report transaction accrued in current year but billed in next year.

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