what if a turnover of a month is bifurcated (for flexibility of tax payment) and filed in two months of 3b return.Is it ok or can it be modified in annual return
ex: 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?
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Works contractor 3b return
Replies (6)
Quick Summary
You mean July sale invoice shown in August ??
just correct your Gstr1 for the month of July with actual trunover of 6 lakh
just correct your Gstr1 for the month of July with actual trunover of 6 lakh
Is there any section or rule under get on this
Interest applicable on 2 lakhs for one month. This can be done, but ensure disclosure in GSTR 1 is appropriate (no tax liability)
May I know the related section or rule under GST,in which it is mentioned
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.
Disclosure of omitted values in subsequent month returns stems from Circular 26/26/2017-CGST.
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