Filling ITR3
This query is : Resolved
06 July 2022
in form ITR3, while filling up P&L, I enter revenue from services as 100,000
A Sales/ Gross receipts of business (net of returns and refunds and duty or tax, if any)
ii Sale of services = 100,00
C Duties, taxes and cess received or receivable in respect of goods and services sold or supplied
iv Central Goods & Service Tax (CGST) - 9,000
v State Goods & Services Tax (SGST)- 9000
and it shows revenue as 118K it includes GST ( but GST is paid back to GOI
D Total Revenue from operations (Aiv + B +Cix) 4D = 118,000
so should I enter in the GST paid as under,
I enter in debits to P & L Account the taxes which I simply collected but paid back to Govt? as under
44 Rates or taxes, paid or payable to Government or any local body (excluding taxes on income)
v Central Goods & Service Tax (CGST) - 9,000
vi State Goods & Service Tax (SGST) - 9,000
previous year I had not filled up sec.44 and the IT assessment order I received is as I filled and doesn't include the GST I paid to the GOI.. ultimately, profit is more
what is the correct procedure?.
thanks in advance..
A Sales/ Gross receipts of business (net of returns and refunds and duty or tax, if any)
ii Sale of services = 100,00
C Duties, taxes and cess received or receivable in respect of goods and services sold or supplied
iv Central Goods & Service Tax (CGST) - 9,000
v State Goods & Services Tax (SGST)- 9000
and it shows revenue as 118K it includes GST ( but GST is paid back to GOI
D Total Revenue from operations (Aiv + B +Cix) 4D = 118,000
so should I enter in the GST paid as under,
I enter in debits to P & L Account the taxes which I simply collected but paid back to Govt? as under
44 Rates or taxes, paid or payable to Government or any local body (excluding taxes on income)
v Central Goods & Service Tax (CGST) - 9,000
vi State Goods & Service Tax (SGST) - 9,000
previous year I had not filled up sec.44 and the IT assessment order I received is as I filled and doesn't include the GST I paid to the GOI.. ultimately, profit is more
what is the correct procedure?.
thanks in advance..
11 July 2022
Correct. You can debit the amount paid back to government in column 44.
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11 July 2022
Thanks a lot🙏.. but what surprises me is the previous year assmnt order.. carries my mistake...because it is advantage dept.. me the looser....
11 July 2022
Yes, many such mistakes were overlooked, be it advantageous or not. But now on you may get defective notice.
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