Composition scheme.

Page no : 2

Divakar (Student CA Final ) (11857 Points)
Replied 01 December 2017

@ Debasish... No problem at all... Only things matter GSTR1 should be filed correctly and when u enhance ur sales.. Then output tax liability paid with interest

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Debasish (ACCOUNTANT) (42 Points)
Replied 01 December 2017

ok thanks @ Divakar

as per govt guidlines the Registered persons with aggregate turnover up to Rs. 1.50 crores will file GSTR1 on quartly basic but there is no such form to file Quartly basis.??

Divakar (Student CA Final ) (11857 Points)
Replied 01 December 2017

Wait for some time for further notification... Windows will open soon... Everyone is waiting for that... Bcz july Gstr1 already filed before that notification

Debasish (ACCOUNTANT) (42 Points)
Replied 01 December 2017

yeah exactly

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 01 December 2017

Originally posted by : Debasish
	is there any problem if i will rectify GSTR1(JULY) and the output will incrase in compared to GSTR3B (JULY).

Problems.... is no more...

But, You ll be pay the Excess tax with Interest...!!!

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Debasish (ACCOUNTANT) (42 Points)
Replied 02 December 2017

yeah obviously excess tax will have to pay but what will be the intrest amount ?

Divakar (Student CA Final ) (11857 Points)
Replied 02 December 2017

@ 18% p. a from the date it payable to the actual date of payment

Debasish (ACCOUNTANT) (42 Points)
Replied 02 December 2017

then the interest will be paid at the time of fillng of GSTR3 or GSTR1.?

and how could we know that which is the payble date.?

Divakar (Student CA Final ) (11857 Points)
Replied 02 December 2017

Payable date is gstr3b last date of that month... Paid now when u find ur liability... And later adjusted in GSTR3

Debasish (ACCOUNTANT) (42 Points)
Replied 02 December 2017

ok thanks

and one more question is that a taxpayer can cancel his GST registration after one year of registration if he will cancel before one year is there be any problem or not ?

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Divakar (Student CA Final ) (11857 Points)
Replied 02 December 2017

No problem at all if he close his business... Once cancellation of gst windows is open then u can cancel it... Within 6 months of gst registration... Now windows is not open... Wait for that...