Tcs credit received under gst

Others 2518 views 3 replies

Sabita Sahoo

630 Points Posted on 17 April 2021

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?

Replies (3)

Pankaj Rawat

GST Practitioner

55067 Points Posted on 18 April 2021

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.