• Correction of Turnover amount and type of supply in Annual Return

Current situation: Total Turnover 821 Lac, treated as intra state supply and 49 each paid as sgst/cgst in 3B during FY 17-18.
Issue: Invoice value taken as taxable value of supply. Correct Taxable value 733 and is an inter state supply where igst of 88 shouldve been paid. Total Invoice Value 821 Lac (733+88)
Query:
1. I intend to show the correct taxable value of supply in Table 4 of GSTR9. Do i need to amend any other Table apart from Table 4. I am not sure if i should amend the tax payable column of Table 9.
2. For correct payment of IGST 88 lac, can I account for the ITC(SGST/CGST) that was used in payment of SGST/CGST tax liability and pay the balance using DRC03 or do I have to pay full 88 lac. Refund will be applied for the cash ledger utilized in payment of tax under the wrong head.

Kindly advice on above two cases. I thank you in advance.
Asked 4 years ago in GST

Yes you will have to mention correct details in column 4 as per books and pay the tax using DRC 03 and claim refund of CGST and SGST paid.

 

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Naman Maloo
CA, Jaipur
4265 Answers
96 Consultations

5.0 on 5.0

Dear Sir,

 

Hope you are doing well !!

 

1. Yes, you will have to show correct taxable value of supply in Table 4 of GSTR9.

 

2. Yes, you can pay tax using DRC03 and claim refund of CGST & SGST paid.

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

I think you must first pay it using DRC  -03 and then claim refund of the excess amount using RFD -01.

Naman Maloo
CA, Jaipur
4265 Answers
96 Consultations

5.0 on 5.0

Hi,

 

You need to first pay the correct tax of IGST through DRC 03 and then claim the refund of already paid incorrect taxes.

Payal Chhajed
CA, Mumbai
5188 Answers
288 Consultations

5.0 on 5.0

Hi

 

1. Tax payable of table 9 shall have to be amended. 

2. You cannot amend other columns of table 9. This will be updated automatically. Extra payment has to be made through DRC 03. It depends on auditor's opinion whether he would suggest making the payment or not. On a conservative basis, one may pay. If not paid, auditor should mention the same on observations in 9C.

 

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

Please note that you will not be able to claim refund of taxes already paid wrongly. The time limit to claim such refunds is 2 years which is already expired in your case.

Lakshita Bhandari
CA, Mumbai
5687 Answers
909 Consultations

5.0 on 5.0

The correct way will be to pay IGST full amount and claim refund of CGST and SGST wrongly paid

Vishrut Rajesh Shah
CA, Ahmedabad
928 Answers
38 Consultations

5.0 on 5.0

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