S.RAMA (BOOK KEEPING & TAX CONSULTANT) (88 Points)
04 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 04 January 2021
Balamurali Unnithan MS
(STUDENT)
(1631 Points)
Replied 04 January 2021
CA. Heet Shah
(Tax Consultant & Practitioner)
(6174 Points)
Replied 05 January 2021
| Originally posted by : S.RAMA | ||
 |
4 invoices of may 2020 was missed to be added while filing gstr3b gstr1 of may2020. can it be added now and whether interest is levied on tax amount of missing tax invoices . how much % and how to disclose in gstr1.pls guide.tnx |  |
Yes u shall show the same in the current tax period along with interest @ 18 %
CA. Heet Shah
(Tax Consultant & Practitioner)
(6174 Points)
Replied 05 January 2021
Take a note date the invoice in may itself otherwise it will be an issue for recipient to claim ITC in the month of may
S.RAMA
(BOOK KEEPING & TAX CONSULTANT)
(88 Points)
Replied 05 January 2021
FINE, THANKS FOR THE RE[PLY, BUT HOW TO CCALCULATE THE INTEREST AMT. LIKE INTEREST SD BE CALCULTAED FROM THE MAY2020 TO DEC 2020 @ 18% ON THE GST AMT RIGHT
S.RAMA
(BOOK KEEPING & TAX CONSULTANT)
(88 Points)
Replied 06 January 2021
HI ALL,
WITH reference to the above discussion, FOR ONE OF THE CLIENT, 4 bills (each belong to diferent months) have been missed and till nov gstr1 and gstr3b was filed as NIL return.
currently, THE ITC AVAILABLE IS 14950/- WHILE THE gst payable for the 4 bills comes to 32000/-. , i have 2 doubts,
1. the interst to be paid on the net tax payable of 17050/-(after seting of ITC) FOR HOW MANY DAYS SINCE THOSE 4 BILLS BELONGS TO VARIOUS MONTHS.
2. tHE CLIENT had received manpower service from anther service provider for which invoice was raised on RCM basis . so does the client need to pay tax for this inward bill or can reject this rcm gst bill and inform the vendor to pay the whole gst by the vendor.
pls clarifythnx
CAclubindia
