Menu
Unpaid GST of one month adjusting against ITC of another month.
If a registered person fails to pay GST on any bill in GSTR-3B and does not report in GSTR-1 also for some reasons then can he adjust such output tax against ITC of the month in which he has enough ITC or whether he should pay such output tax in cash?
Replies (2)
You can use ITC for payment of any missing output liability
Dear sir, The output tax liability of a particular month can be adjusted with ITC, but in case of insufficient ITC the liability must be met payment of cash. Incase you are planning to show the bill in the next month then you should pay an interest at the rate of 18% on the gst value.
Recent Topic
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
Related Topics
CAclubindia
