EASYOFFICE

GST Variance in IT

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 May 2023 Respected Experts,

While preparing Financial Statements of one of my friends Prop Business, i observed that he has erroneously omitted few Sales Transactions in GST, which resulting variance between IT Turnover and GST

It is a Non Tax Audit Case

Since we are declaring 100 % Actual Sales in Income Tax, will there be any consequences for the variance happened in GST?

Kindly advise
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
12 May 2023 File GST annual return and report right GST turnover..
Notice may be issued from GST department.
Profile Image

Accounts & Tax Consultant

Profile Image

Accounts & Tax Consultant (Querist)
12 May 2023 Respected Sir,

Thanks much for the valuable response !

Hope there will not be any issues from Income Tax Point of view

Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
12 May 2023 Income tax you reported higher turnover hence no issues.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links