IN FY 2019-20 I WANT TO INCREASE CASH SALES B2C TILL MARCH 2020,
1. IF A ADD THOSE SALES IN CURRENT MONTH GSTR 3B AND PAY TAX , IS THIS METHOD CORRECT? 2. OR I SHOULD I PAY TAX USING DRC 03?
WHAT IS THE EFFECT OF THESE ADJUSTMENTS WHERE DO I HAVE TO ENTER ADDITIONAL SALES AND TAX PAID SO THAT THE EXCESS TAX PAID DOES NOT GET MIXED WITH CASH LEDGER BALANCE OR GETS UTILISED IN NEXT YEAR'S GSTR 3B ?.
15 October 2020
SIR, I NEED MORE CLARIFICATION ON THIS ISSUE,
1. WHEN I ASKED ABOUT INCREASED SALES IN FY 18-19 , I WAS ASKED TO USE GSTR9 TABLE 14 AND DRC 03 BUT FOR FY 19-20 NOW IT IS BEING SAID TO DO THE SAME IN GSTR 3B ?.
2. IF TAX IS PAID IN NEXT MONTH'S GSTR 3B , HOW WILL THE TAX PAID ALONG WITH INTEREST WILL SET OFF AGAINST FY 19-20 INCREASED SALES? WILL THE TAX PAID REMAIN IN CASH LEDGER?
3. HOW WILL THE ASSESSING OFFICER KNOW THAT THE TAX PAID IS NOT FOR THIS YEAR BUT FOR FY 19-20?.
4. IF LAST YEAR'S SALES ARE INCLUDED IN SEPT. 2020 GSTR 3B IT WOULD NOT MATCH AGINST GSTR 1 OF SEPT.2020?.
12 July 2024
It seems like you have several questions related to GST compliance and reporting. Let's address each query one by one:
### Query 1: Use of GSTR 9 Table 14 and DRC 03 for FY 18-19 vs. GSTR 3B for FY 19-20
1. **Regarding Increased Sales in FY 18-19**: - For FY 18-19, if you need to rectify or report increased sales, you were advised to use GSTR 9 Table 14 (Reconciliation of turnover declared in audited financial statements with turnover declared in annual return) and DRC 03 (for voluntary payment of taxes). - For FY 19-20, it seems the advice is to rectify or report the increased sales directly in GSTR 3B. This could be because GSTR 3B is a monthly return where adjustments can be made promptly for the relevant period.
### Query 2: Tax Paid in Next Month's GSTR 3B and its Set Off Against Increased Sales
2. **Set Off Against Increased Sales**: - If tax is paid in the subsequent month's GSTR 3B along with interest for FY 19-20 due to increased sales, the tax paid will generally remain in the electronic cash ledger. - To set off this tax against the liability arising from increased sales in FY 19-20, you would declare these adjustments in the relevant month's GSTR 3B under the correct tax heads (CGST, SGST/UTGST, IGST).
### Query 3: Ensuring Correct Attribution of Tax Payments to FY 19-20
3. **Identification by Assessing Officer**: - The GSTN (Goods and Services Tax Network) system maintains a record of all tax payments made against your GSTIN. - When you file GSTR 3B for a particular month of FY 19-20, the tax payments made for that period will be attributed to that financial year automatically in the GSTN system. - Assessing officers can verify these details electronically through the GSTN portal and during their assessments.
### Query 4: Matching Sales in GSTR 3B and GSTR 1 for September 2020
4. **Matching Sales in GSTR 3B and GSTR 1**: - If sales from the previous year (FY 19-20) are included in the September 2020 GSTR 3B but were not declared in the corresponding GSTR 1 of September 2020, there might be a mismatch. - It's important to ensure that sales reported in GSTR 3B for a particular month match with the corresponding GSTR 1 for the same period to maintain consistency and compliance.
### Conclusion: - For rectifying or reporting increased sales for FY 18-19, use GSTR 9 Table 14 and DRC 03 as advised. - For FY 19-20, rectify or report increased sales directly in the respective month's GSTR 3B. - Ensure tax payments are correctly attributed to the relevant financial year by filing GSTR 3B accurately and timely. - Maintain consistency between GSTR 3B and GSTR 1 to avoid mismatches and compliance issues.
If these queries are specific to your business context, it might be beneficial to consult with a GST expert or tax consultant who can provide personalized advice based on detailed information about your business operations and GST filings.
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