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Sale invoice of June 2020 not repoted

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kiran

accounts manager

263 Points Posted on 09 September 2021

kindly suggest can it be diclaired in sept 21 gstr 1,or gstr 9? interest rate?

Replies (3)

Quick Summary

This discussion addresses how to handle a June 2020 sales invoice that was not reported. It's advised to declare the missed invoice in the September 2021 GSTR-1 to ensure the recipient can claim input tax credit. While GSTR-3B calculations are based on filed information, missed invoices can still be included in GSTR-3B up to the September 2021 return. The applicable interest rate for late declarations is 18%.

Rama chary Rachakonda

Master in Accounts & high court Advocate

9620 Points Posted on 14 September 2021

It should be noted that the actual tax liability and payment, at present, is completely determined by information filed in GSTR 3B. So even if you missed out some of your invoices in GSTR 1, still you can consider those invoices while filing your GSTR 3B.

Sravan

Manager-GST

26 Points Posted on 14 September 2021

Hai Kiran,

It is advisable to show the missed invoice(s) in GSTR-1, on or before September 2021, otherwise, your client won't get the input tax credit on the said invoice(s), even if you show the same in Annual return-GSTR-9.

If you have not considered the said invoice(s) in tax calculations, while filing the GSTR-3B, you still have the time to show in GSTR-3B up to September 2021 return. Rate of interest is 18%.

Hope Iam clear.