Hello Friends,
GSTR 4 Table 8 for FY 2020-21 showing negative liability of FY 2019-20 to be adjusted because while filing GSTR 4 for FY 2019-20 Table 6 was missed out to be filled by mistake.
So portal took tax paid as per Table 5 on basis of CMP-08 but output liability was not registered through Table 6 for FY 2019-20
Now, while filing GSTR 4 for FY 2020-21, Table 8 is showing negative liability (means excess tax paid but no output liability registered thru Table 6 or Table 8) for FY 2019-20. So, if we file as it, i doubt that it may lead to posting negative liability in Electronic Liability Ledger which would not allow to pay tax upto such amount in CMP-08 for subsequent quarters.
Alternatively, if we declare now output liability for FY 2019-20 along with 2020-21 in Table 6 for outward liability, it seems to be adjusting negative liability in Table 8 of GSTR 4 for FY 2020-21 but i doubt that it may lead to mis-interpreation during assessment later that output liability for current year FY 2020-21 stadalone was the amount including addition done for FY 2019-20, whereas self assessed liability declared in CMP-08 for FY 2020-21 was short by that amount...which may lead to unfair demands later for FY 2020-21
So kindly, suggest if some has faced this issue earlier..
Further portal still showing late fee despite of extension of GSTR 4 filing date upto 31st May 2021..
Kindly suggest your views . Thanks
CAclubindia
