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Sec 43B Payment of Gst in regular registration

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Deepak Jain Salecha

17 Points Posted on 24 December 2020

Whether Outstanding Gst payment in March month is covered under sec 43B. It has not been transferred through p&l account since assessee is taking credit of gst input under gst act Hence no deduction has been claimed of Gst payable.Whether Ao can add this to the income if not paid on time i.e before due of filing return.

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Quick Summary

This discussion explores whether outstanding GST payments for March fall under Section 43B of the Income Tax Act. It clarifies that if GST input credit is claimed under the GST Act and the payable GST isn't deducted in the Profit & Loss account, the Assessing Officer (AO) might still disallow the expense if not paid by the tax return filing due date. The core question is how disallowance can occur if no deduction was initially claimed.