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ITC Unmatched with GSTR-2B and Huge Demand Notice Issued

231 views 4 replies

sujit naha

accountant

355 Points Posted on 03 March 2021

For The Month of JANUARY - 2021 ----

Our ITC Unmatched with GSTR-2B --- of Rs. 575000/- -----

Due to Some Invoices are not yet uploaded at GSTR-1 by Supplier ----

Supplier confirmed that He will upload the same within 2 days

Today GST Superintendent came and verified ----

Issue a Demand Notice Rs. 575000/- with Interest and directed us we have to deposit

this amount tomorrow

Question : This is Justified ???? What is GST Rule ?

please reply

Replies (4)

Siva Raj

358 Points Posted on 03 March 2021

How much ITC reflected in your GSTR2B

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 03 March 2021

What is itc shown in 2b?

Kishor Lulla

1011 Points Posted on 04 March 2021

Rule is correct. action of officer is wrong. can claim in next month.

First calculate how much ITC reflected in your GSTR2B based on that calculate provisional ITC 5% as per Rule 36(4). if ITC availed is >5% then you can pay the demand with interest 24% p.a. next month you can reavail the same after reflection in your GSTR2B. you have 30 days to pay the demand