03 September 2020
Dear Expert I have a client who sells in the month of JULY 2019 Rs. 40,00,000(Taxable value=3389830.51 CGST=305084, SGST=305084) but due to some reason customer return the goods in the month of August 2019, and my august month sales is only Rs. 100000. And other issue is that my client total sales in the year 2019-20 is Rs. 12,00,000. The amount of tax was paid by my client through an Electronic credit ledger in the month of July-2019. Now my credit is blocked with my sales due showing in GSTR-3b in the month of July-19. And now my GSTR-3b show my total Sales 5200000 around but my actual sales is 1200000. Question:-1 how can I take my input tax credit ledger balance back? question:-2 how to rectify my sales figure in GSTR-3B.?
04 September 2020
You have an issue.You can handle this problem in GSTR9 for 19-20. What are the total sales from April to August 2020? Have you issued the credit note in August 19? If the sale is not enough to handle the sales reversal of 40 lakhs then I my opinion you should file the refund of excess tax paid under section 54.
CAclubindia
