Works contractor 3b return
Vamshi Krishna (40 Points)
08 December 2020ex: Turnover of July is Rs.600000 and instead of filing 6lakhs in July return,he filed 4lakhs in July and 2 lakhs in August.What are the consequences?
Vamshi Krishna (40 Points)
08 December 2020
ayusmita
(Tax consultant)
(5885 Points)
Replied 09 December 2020
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 09 December 2020
Interest applicable on 2 lakhs for one month. This can be done, but ensure disclosure in GSTR 1 is appropriate (no tax liability)
Vamshi Krishna
(40 Points)
Replied 09 December 2020
APURBA CHATTERJEE
(QUALIFIED CHARTERED ACCOUNTANT)
(602 Points)
Replied 09 December 2020
Interest will be applicable in case of deferment of GST liability, Interest comes as per section 50(1) @ 18% from due date to actual date of payment.
CA Akshay Hiregange
(Partner - Audit & Assistance)
(4515 Points)
Replied 10 December 2020
Disclosure of omitted values in subsequent month returns stems from Circular 26/26/2017-CGST.
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