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Matching annual turnover

uma shankar (proprietor) (140 Points)

23 June 2022

In GST Dashboard Annual turnover is given and it is said that up to such date you can make correction if you find any difference in this turn over and the turnover as per your books of accounts. Practically we are careful about Filing of returns only, thereafter we do not open the GST site. Therefore we could not make any correction in the Turnover amounts, and the time limit expires. What are consequences of not making this correction ? Is there any other chance of making corrections ? Since which Financial year this started ? What will happen for Last so many years ?

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25 Replies

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 23 June 2022

You may get notice from GST Dept and pay the additional GST if required

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CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 23 June 2022

No issues , updation required only for confirmation of your filing frequency.

1 Like

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 26 June 2022

Visit GST dept once and explain the facts for further process

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 26 June 2022

No need for doing so as non updation of turnover does not attracts any liability, Also it is not compulsory under any provision of act

1 Like

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 26 June 2022

Prevention is better than cure under GST Act .. Resolve the issue at the earliest

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uma shankar (proprietor) (140 Points)
Replied 26 June 2022

Thank you Madam.

1 Like

uma shankar (proprietor) (140 Points)
Replied 26 June 2022

Thanks for response, In my opinion Madam Rashmi is Right and we should not make a issue Unnecessarily. Why to ask for trouble in the name of Prevention.

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 26 June 2022

Welcome Dear........

Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 26 June 2022

If Audit is applicable then your auditor also may inform you about the Difference in turnover.

If not today, you may need to visit the GST Office later . The website data can't wiped out

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 26 June 2022

I am dealing in more than 1000 files and never ever called by department just for sake of difference in GST turnover.

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Eswar Reddy S (CFO- at NHTF) (58270 Points)
Replied 26 June 2022

People tell somany stories.

If you have more than 1000 files then you will not be able to be active on this platform for long hours

CA Rashmi Gandhi (Chartered Accountant) (86323 Points)
Replied 26 June 2022

If I m self practising then I also have staff , it's just a commonsense. You also saw my active hours. Just i m out of station for vacation that why i m active here.