Short Liability declared in 3b in the month of march, would it be better to declare the assessed liability in the next month i.e April Or directly in DRC-03?
Which option is better among these two?
5 Replies
Hemal Makwana
(Designation)
(771 Points)
Replied 17 June 2020
Disclose in April.. advisable.. your income and liability will tally at aggregative level... if you go with DRC-03, income and liability won't tally and in this case also, its not an issue if you go with DRC-03, both are legal. but advisable is to disclose in next month.
Shivam RC
(Student)
(23683 Points)
Replied 17 June 2020
I would advise you to disclose the Tax Liability in April Month's Return. Paying via Challan DRC-03 will cost you in terms of huge Interest.
vivek shah
(51 Points)
Replied 17 June 2020
Interest payment is self assessment and declaration. It would arise even if we make short payment Or late payment. If we declare the liability In April There would be Calculation mismatch in The next financial Year. Soo according to me it is better to pay through Drc-03? Your views are awaited!
Shivam RC
(Student)
(23683 Points)
Replied 17 June 2020
You can pay the difference amount via FORM GST DRC-03 as well. There's no issue. Both are correct. At the end of the year you will be filing Annual Return ( FORM GSTR-9 ) where you can rectify or correct your mistakes made in that particular FY.
So you can pay the tax now voluntarily via DRC-03 and declare the correct tax liability in FORM GSTR-9 of FY 2019-20.
So you can pay the tax now voluntarily via DRC-03 and declare the correct tax liability in FORM GSTR-9 of FY 2019-20.
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