Turnover of Rs. 10,00,000 was omitted from GSTR 3B for the month of March 2018(2017-18). Now that the turnover has been shown in GSTR1 of the corresponding month but the amount of tax on the said amount remains unutilised in the electronic cash ledger. Now the question is, should that turnover be shown in GSTR3B of May 2018 (2018-19) or should we wait for annual return?
If yes as per the former, the tax has been deposited as per the working of March 2018, but now if that turnover is shown in May's 3B, the output tax ledgers (CGST and SGST) have been changed due to the input IGST component, so in this case, additional SGST would be deposited and some amount of CGST would remain unutilised in cash ledger. This one is unfair as per the point of view of the taxpayer.
The second possibility is to wait for Annual Return. If we show the said turnover and liability in Annual Return , the department would ask for interest on the tax amount as the tax was deposited but not discharged from Electronic cash ledger.
What should be the best possible solution in this case ?
First of all Such payment made to cash ledger is of no use unless it is setoff , As u yourself clarify the same ,
Now the only solution your problem is show it in your Next 3B , & WHILE SETTING OFF IGST Input , do mannual setoff ITC in such a Propotion that the Tax deposit in Cash ledger can be set off againt the liability u create
SORRY THE REPLY WAS MODIFY
ACTUALLY DRC-03 IS FORM FOR DEMAND UNDER NOTICE RULE 142, OR TO EXCESS ITC HAS BEEN CLAIM IN RETURN CAN REVERSE HERE
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