I have made a sale as B2B in FY 24-25
but later in FY 25-26 it was discovered that the sale was made to the wrong gst number actually it was supposed to be B2C sale.
my question is how can rectify this error now. and what will be the the tax implication to the party whom I shown such sale as B2B sale
Menu
Wrong head of sale
Replies (1)
You can amend the GST returns for FY 24-25 to reflect the correct classification of the sale as B2C. This involves filing a revised return.
In GST, B2B transactions typically allow the recipient to claim input tax credit, whereas B2C transactions do not.
The party mistakenly shown as a B2B recipient might have considered the GST paid as eligible for input tax credit. If the sale was actually B2C:
They might not be able to claim input tax credit.
You might need to address this with the recipient regarding any potential impact on their tax position.
Steps to Take correct GST Returns: File a revised GST return for FY 24-25.
Communicate with the receipient : Inform the party about the correction and discuss any implications on their input tax credit claims.
Recent Topics :
- TDS filing for the 1st quarter of TY 2026-27
- Login into Old Traces Portal
- Professional Income reporting in ITR-3
- Pf exemption in hand of spouse on demised of husba
- Missed deadline to revise ITR for a foreign asset
- Durga Puja 2026 Dates: Mahalaya, Shashthi to Vijay
- Indo-MIM IPO Allotment Date, Status Check and List
- GSTR 1 filed but GSTR 3 B no filed
- ITR FORM FILING REGARDS
- TDS JUSTIFICATION REPORT
Related Topics :
CAclubindia
