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gstr 3b adjustment

249 views 8 replies

Krishna Karthik

47 Points Posted on 13 June 2018

in previous financial year gstr 3b i have under/over reported gst tax can i adjust them in current year's gstr 3b..if so is there any need to pay interest if the amount is adjusted with credit balance.if interest is to be paid how much percent amd how to calculate it???

Replies (8)

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 13 June 2018

Yes... You can adjust CY gstr 3b.

And payable interest.

But,

How to we understand the Under/Over ....???!!!!!

Krishna Karthik

47 Points Posted on 13 June 2018

there is a difference of tax when i am comparing them with gstr 3b and books of account...interest rate and how do we calculate that??

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 13 June 2018

Bro.,
I / We (CCI participants) can't understand without clarity of Your query...

If You are availed excess ITC then Pay interest @ 24% from the availed month...

If you are not showing some outward supplies related taxes then Pay interest @ 18% from the invoiced months...

Krishna Karthik

47 Points Posted on 13 June 2018

ok sir

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 13 June 2018

You are most welcome...

Krishna Karthik

47 Points Posted on 13 June 2018

sir, i have another query. in dec gstr 3b i entered the sales taxable value as 54,37,155.00/- but the actual value is 5,43,715.50. i filled gstr 1 with the cortect amount.the outpt tax is entered correctly for 543715.50/-. sir, can you suggest any remedy for this???