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Previous year invoices missed

mukund (manager) (480 Points)

18 October 2019

I have shown the forgotten sale invoices of fy 18-19 in Gstr 1 of Sep 19 . My question is that should I add this forgotten amt of fy 18-19 to the sale of Sep 19 in Gstr 3b, if I add then sale of 19-20 will be mismatched .what to do?

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5 Replies

Hariharan L (Audit Assistant) (30 Points)
Replied 18 October 2019

As per revenue recognition norms, revenue should be recognised as and when risks and rewards are transferred to the buyer. if accounts are already filed, this transaction qualifies as a prior period item. If this was detected before finalisation, then it should be accounted in FY19. The customer has to remit the GST dues if any with interest

mukund (manager) (480 Points)
Replied 18 October 2019

Thanks sir
But in gstr3b of Sep 19 should I add this amount ?
I showed the forgotten invoices of fy 18-19 in Gstr 1 of Sep 19 , I mentioned the actual date of forgotten invoices i.e sale of fy 18-19