Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Wrong ( less ) turnover in GST RETURN

29 October 2019

A composition dealer has by mistake shown less turnover in one quarter of 2018 -19 to the tune of 2 lacs .. what remedies are available to correct the mistake and also pay tax on it...

Reply
Follow
Share

4 Replies

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 29 October 2019

Deposit the tax with interest on missed sale & file DRC 03 .

Report the missed sale in annual return

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (127911 Points)
Replied 30 October 2019

@ Mr Pankaj Rawat Ji.,

In current scenario the annual return is optional... Right?

incase FY 18-19 missed sales will be shown in FY 19-20 / in DRC-03 with all the payments...
After that the dealer will not file annual return then what are complaints to face the dealer?

Note : Annual return is optional.

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 30 October 2019

Yes you are correct annual return is optional, but in such case taxpayer should file.

Moreover by depositing the tax & Set-off by filing DRC 03 is more then enough.

Note : In my view the taxpayer should file Annual Return in such situations.

1 Like

RAJA P M ("Do the Right Thing...!!!") (127911 Points)
Replied 30 October 2019

Originally posted by : Pankaj Rawat
	Yes you are correct annual return is optional, but in such case taxpayer should file. Moreover by depositing the tax & Set-off by filing DRC 03 is more then enough. Note : In my view the taxpayer should file Annual Return in such situations.