SALES MISSED 2017-18

SIR,

WE HAVE SOME MISSED SALES INVOICE VALUE FOR THE YEAR 17-18 , FOR THAT CAN I PAY TAX AMOUNT IN DRC-03 NOW? OR ANY OTHER SOLUTION?

Replies (20)
Quick Summary
This discussion addresses how to handle missed sales invoices from the 2017-18 financial year. The consensus is to declare the actual transactions in your annual return and pay the outstanding tax liability, along with applicable interest, using the DRC-03 form. Calculations for interest are provided, typically at 18% per annum, starting from the day after the original due date (usually 1st April 2019 for FY 17-18 if not filed by 31st March 2019).

Pay the difference and payable amount through DRC-03 Form.

But, Your query is not cleared...!

SIR,

WE HAVE MISSED OUR SALES INVOICES IN 17-18 FOR A VALUE OF 500000/- AS TAX AMOUNT. NOW WE GOING TO FURNISH ANNUAL RETURN. CAN WE PAY THE DRC 03 SEPARATELY OR INCLUDE THE SALES IN ANNUAL RETURN AND PAY THE DIFFERNCE AMOUNT OF TAX IN DRC-03 OR ANY OTHER MANNER?

 

THANKS,

If You are missed the sales value for the FY 17-18 then Show the actual transactions in GSTR annual return and pay the liability through DRC-03 form...
Pay it along with interest
Can anyone tell how to calculate interest if bill for Aug 17 amt 10000 and paying now 18% at 1800 now through drc 3
Calculate interest @ 18%p.a as

= 1800 * 18% / 365 * no.of days dalayed...
Raja sir do i need to calculate days from sep 17 to jan 2020 as i am paying now
Approx 760/- as interest to be paid
@ Renuka Sharma.,

Yes... You can calculate interest from 01/04/2019 to Current Date...
Thannks raja sir
You are most welcome...

As of today the Interest value Rs. 269.85 (R.off - 270)
Roshni ji & Raza sir pls send calculations
= 1800 * 18% / 365 * 304
= Rs. 270/-
Thank you sir

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