Wrong GST Charged
We levied GST for multiple items @ 18% and the invoice got paid. Now we realised that for one of the items, the correct rate of GST is 28%. How do we fix this ? more
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Dear Anand the simplest way is to issue debit note of difference of tax amount by mentioning the invoice number to the purchaser irrespective of registered or unregistered purchaser and get your amount from him. After that show in your current month's GSTR 3B and GSTR1 if the difference is of previous months. more
Jul 29
Dear Anand If you have raised the bill on a registered dealer, then talk to them and Raise a DR note ,mentioning the invoice number and particulars as short GST collected on such and such invoice. Report it through your GSTR1 of the current month and pay the TAX. Get this paid by the buyer who get ITC. If the buyer is unregistered dealer or an individual , then pay the difference to Government to the DR of your P&L. more
Jul 29
There is short charge of Tax amount so where is the difference of registered or unregistered dealer? In both the cases difference of tax amount has to be recovered from the purchasing dealer. On what basis you are advising to deposit the difference to the government and debit to P&L account? more
Jul 29
Issue debit notes of the balance GST amount to the client. In this manner the client will get the ITC if B2B transaction. more
Jul 29
