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TURNOVER MISMATCH, Goods and Services Tax - GST

Issue Id: - 117552
Dated: 5-10-2021
By:- vignesh VSACCOUNTOPRIVATELIMITED
TURNOVER MISMATCH

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SIR. In the month of march 2021 sale of ₹ 20.00 lakhs reported in GSTR-1, but by mistake Turnover was reported in GSTR-3B as 2.00 Crores but Tax amount correctly given for 20.00 lakhs ONLY, how to rectify this error! Reporting the same in Annual Returns is Sufficient?

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Showing Replies 1 to 7 of 7 Records

1 Dated: 5-10-2021
By:- Shilpi Jain

Yes. reporting in annual return will suffice.


2 Dated: 5-10-2021
By:- KASTURI SETHI

Yes. Reporting the same in Annual Return is sufficient.Actually Annual return is reconciliation statement. Treat filing the annual return an opportunity to detect your mistake and rectify on your own.


3 Dated: 5-10-2021
By:- Ganeshan Kalyani

I agree with the views of both the experts.


4 Dated: 6-10-2021
By:- RAMASWAMY Advocate

In my view correcting the details of outward supply return filed by the supplier must duly match the details of inward supply declared by the recipient in his return. Form GST MIS-1 and 2 respectively to be filed in this regard.


5 Dated: 7-10-2021
By:- KASTURI SETHI

In my view, since GSTR-1 has been filed correctly, ITC has been passed correctly. The buyer/receiver will take ITC on the basis of tax paid on the transaction value of ₹ 20 lakhs and NOT on the basis of value of ₹ 2 crores shown wrongly in GSTR 3 B. It is typographical error. So rectification via Form GST MIS-1 and Form GST MIS-2 mentioned under Rules 70 and 71 of CGST Rules is not required. Hence I am of the view that reporting the same in Annual Return is sufficient.


6 Dated: 10-10-2021
By:- Shilpi Jain

Agree. One should not complicate things in this virtual environment. If required a physical intimation letter can be made to the department if considered necessary. Else a disclosure in annual returns would be sufficient.


7 Dated: 11-10-2021
By:- KASTURI SETHI

Disclosure of error/rectification in the Annual Return is itself an intimation to the department de jure.


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