Analytic Business Consulting
24 February 2021
I had choosed for Self Assessment method since there is no tax payment in previous month.
Since, there is no full ITC in GSTR 2B and im forced to pay a higher Tax in cash to avoid interest liabilities for the two months( Same the case may be in the month 2 too).
And when filing the third month return there may be much ITC and the paid tax in cash in month 1 & 2 stands fully unutilised.
Can I apply for a refund of the balance cash ? Or what should I do while calculating the tax liability in 1&2 months of the quarter to avoid excess tax payments ?
Please guide me.
Kindly make a reply.