Sec 43b of income tax act

This discussion clarifies whether a GST liability paid after the due date for filing under Section 139(1) of the Income Tax Act is subject to disallowance under Section 43B. The consensus is that if the GST liability is not debited to the Profit & Loss account, Section 43B disallowance does not apply, even if paid late, though it should be reported in the tax audit report. Favourable judicial precedents exist on this matter.