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Value shown in Gstr 1M but not shown in 3B
for Aug 17 of gstr 1M amount of rs 280000 in terms of taxable value has been shown whereas for same month while filing 3b it was reported by mistake as 0. however after 1 yr the same amount has been included in gstr 3b. however in Aug 17 i also did not have enough ITC available. now my client has received a show cause for disallowance of ITC claimed after 1 year and also interest penalty was charged. what to do now
Replies (4)
Quick Summary
If paid through valid itc then also only interest leviable.
Challenge liability and penalty in your reply. Accept interest till payment
Challenge liability and penalty in your reply. Accept interest till payment
Yes itc is valid the only thing is somehow i missed to show amount in 3B but they are saying that as in disputed month itc was not available and when itc is not available one has to pay tax in cash.
Agree
Wrong
Challenge it.
ITC is also nothing as tax payed by you on your purchase
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