The business was started in the month of Nov 2019 and in the initial months, client himself was filing gstr1 and gstr 3B. During the course, he wrongly didn't make entry in the ledger for ITC and tax adjustment. So, now there is a difference in the amount shown in the ledger.
Is there anyway to correct this? What is the solution available?
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Solution for the difference in the electronic credit ledger
Replies (6)
Difference is in your Accounting software or at GSTIN portal ?
Can you elobrate your query.
Can you elobrate your query.
At gstin portal
1. If you missed to take ITC of some invoices, than you can take ITC of same in current month GSTR 3B
2. If you missed to show sales invoice than you can add that output in current month GSTR 1 and GSTR3B, as the case may be and pay tax along with interest, if any accordingly.
but all this correction/adjustment, you can do up to September, 20 return only (i.e on or before 20th October, 2020)
2. If you missed to show sales invoice than you can add that output in current month GSTR 1 and GSTR3B, as the case may be and pay tax along with interest, if any accordingly.
but all this correction/adjustment, you can do up to September, 20 return only (i.e on or before 20th October, 2020)
Ji, I will tell u as an example..
In the month of Nov, Tax liability - Rs. 3,000/-
ITC available in the beginning- Rs. 1,000/- ITC for the month of Nov - Rs. 3,000/-This is entered correctly in the portal. But without making an entry for tax adjustment, he submitted and filed gstr 3b. This means that Tax paid thru credit is showing as Nil. Tax is not paid by cash also. In the gstr 3b it shows lyk he has neither paid tax nor adjusted the tax.
Is that possible?
In the month of Nov, Tax liability - Rs. 3,000/-
ITC available in the beginning- Rs. 1,000/- ITC for the month of Nov - Rs. 3,000/-This is entered correctly in the portal. But without making an entry for tax adjustment, he submitted and filed gstr 3b. This means that Tax paid thru credit is showing as Nil. Tax is not paid by cash also. In the gstr 3b it shows lyk he has neither paid tax nor adjusted the tax.
Is that possible?
It's not possible..
You can not file Return without setoff of liability, either in cash or through Credit.
In Nov, Liability is Rs. 3000
ITC of that month is Rs. 3000
So, Ultimately, Tax Payable is Zero for that month.
There is no need to pay cash or use of credit of credit ledger Rs. 1000 (that is why there is no adjustments in cash or credit ledger, because all are adjusted in that month's return only)
You can not file Return without setoff of liability, either in cash or through Credit.
In Nov, Liability is Rs. 3000
ITC of that month is Rs. 3000
So, Ultimately, Tax Payable is Zero for that month.
There is no need to pay cash or use of credit of credit ledger Rs. 1000 (that is why there is no adjustments in cash or credit ledger, because all are adjusted in that month's return only)
Ok..thank u ji
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