NEGETIVE LIABILITY IN GST CMP 08

How to treat the NEGETIVE liability in gstr CMP 08 Quater apr21 to june21? please help
Replies (1)
Composition dealer who made the mistake in filing their GSTR 4 (Annual return) for Fy 2020-21.
while filing GSTR 4 , for Fy 2020-21 you have Not report the Tax liability in table 6 of GSTR 4 , so the tax deposited for the period (2020-21) will be transferred to Negative Liability Statement.
So those who have not reported the liability in table 6 of GSTR 4 , the liability declare for the year assumed to be NIL & the tax deposited for that year is get transferred to your Negative Liability Statement.

Thus it is adjusting your Qtr liability from Negative Liability Statement.

You should pay the tax in Cash Ledger for the Qtr & file DRC 03 to setoff the same.

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