Adjustment of Input Tax credit.
2 years ago
As an Accountant I am asking this question. Our Shop ( Retail dealer) in July had out put of CGST and SGST of Rs.20000/- each. Our supplier did not file his GSTR 1 in time. Hence our ITC of July is shown as Rs.2000/- each under CGST and SGST. So we have to pay Rs.18000/-+ Rs.18000/- under CGST and SGST. This ITC has been reflected in August month. In August month our output is less than our input. We are yet to file our GSTR 3B for July and Aug . Is it possible to file GSTR 3 B for July and Aug without paying tax as both month put together our tax would be 'Nil".
A.Dear Client,
As per the condition prescribed under Section 27(3) of the GST Law every taxpayer has to pay tax compulsorily for filling GST Return and the valid return will be used for claiming Input Tax Credit.
Thank You.
As per the condition prescribed under Section 27(3) of the GST Law every taxpayer has to pay tax compulsorily for filling GST Return and the valid return will be used for claiming Input Tax Credit.
Thank You.
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A.Dear Client,
As per the condition prescribed under Section 27(3) of the GST every taxpayer has to pay tax compulsorily for filling GST Return and the valid return will be used for claiming Input Tax Credit.
Thank You.
As per the condition prescribed under Section 27(3) of the GST every taxpayer has to pay tax compulsorily for filling GST Return and the valid return will be used for claiming Input Tax Credit.
Thank You.
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Share
A.Dear Sir,
You may ask this question to any chartered accountant.
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