During nov,20 flipkart has filed TCS collection which is autopopulating in my tds/tcs credit received tile and I accepted resulting to credit in cash ledger.During dec,20 the same amount is also populating in tcs credit received tile and I accepted.As I had wrongly accepted the credit,I reversed the said amount through DRC03 on 15.2.21.
Now on 1.4.21 my cash ledger again debited by same amount having descripttion- amount recovery due to tcs credit taken twice in two different return period.When I verified the Tdc/ tcs credit tile filed for dec,20,the action column shows- counter party already amended.What does it mean?how the cash balance automatically debited?
Menu
Tcs credit received under gst
Replies (3)
Quick Summary
As you rightly filed DRC 03 for wrongly accepted TCS credit & paying same from your cash ledger.
Now come to your Query the " Counter party already amended" means in term of Section 52(6) of CGST Act any operator (Flipkart) can rectify his GSTR 8 if he discovered any omissions or incorrect particular in statement being Filed.
So the Flipkart has reverse the particular for which ultimately you paid by filing DRC 03. So this resultanting your Cash Ledger being Debited twice.
In term of Rule 87(12) any discrepancies in cash ledger , the taxpayer can communicate the same to the Jurisdiction Tax Officers by filing GST PMT-04 form.
So It's better to contact to your Jurisdiction Tax Officer with all your relevant documents.
Now come to your Query the " Counter party already amended" means in term of Section 52(6) of CGST Act any operator (Flipkart) can rectify his GSTR 8 if he discovered any omissions or incorrect particular in statement being Filed.
So the Flipkart has reverse the particular for which ultimately you paid by filing DRC 03. So this resultanting your Cash Ledger being Debited twice.
In term of Rule 87(12) any discrepancies in cash ledger , the taxpayer can communicate the same to the Jurisdiction Tax Officers by filing GST PMT-04 form.
So It's better to contact to your Jurisdiction Tax Officer with all your relevant documents.
Is the cash ledger automatically debited when flipkart reverse the particulars? because the taxpayers has not accepted the modification
Ideally No...... it should not be .
So it's advisable to contact to your Jurisdiction Tax Officer.
So it's advisable to contact to your Jurisdiction Tax Officer.
Recent Topics :
- GST Input Tax Credit (ITC) on Camera Purchase &
- What makes CA Himanshu Singla different from other
- TAX TREATMENT AND ACCOUNTING ENTRIEOF PERQUISITES
- Gifting money to my father-in-law (my husband's da
- GSTR-1 JSON from marketplace exports (Myntra / Ama
- Question on buy back of shares
- Saving corporate tax completely on profit from rea
- Hi experts need some helps
- A query regarding GST and Place of Supply:
- ADT-3 not filed by previous Auditor
Related Topics :
CAclubindia
