1. GSTR 1/IFF vs. GSTR 3B:
- GSTR 1/IFF is a return where businesses report their outward supplies.
- GSTR 3B is a summary return where businesses report their tax liability.
If the tax liability reported in GSTR 1/IFF exceeds that reported in GSTR 3B, Part A of Form GST DRC-01B will be issued.
2. Response to Difference:
- If you agree with the difference, you need to pay the additional tax along with interest under section 50 through Form GST DRC-03 and provide details in Part B of Form GST DRC-01B.
OR
- If you disagree with the difference, you need to reply with your reasons in Part B of Form GST DRC-01B.
3. Non-Payment or Unsatisfactory Reply:
- If the differences are not paid or if a reply is not provided within the specified time, or if the reply is not satisfactory according to the proper officer, the outstanding amount may be recoverable under section 79.
4. ITC in GSTR 3B vs. ITC in GSTR 2B:
- ITC (Input Tax Credit) is the credit a business gets for the taxes it has paid on its inputs.
- GSTR 2B is a system-generated statement showing input tax credit.
If the ITC availed in GSTR 3B exceeds the system-generated ITC in GSTR 2B, Part A of Form GST DRC-01C will be issued.
5. Response to ITC Difference:
- If you agree with the ITC difference, you should pay the excess availed ITC along with interest under section 50 through Form GST DRC-03 and furnish details in Part B of Form GST DRC-01C.
OR
- If you disagree with the ITC difference, you should reply with your reasons in Part B of Form GST DRC-01C.
6. Non-Payment or Unsatisfactory Reply:
- If the excess availed ITC is not paid or if a reply is not provided within the specified time, or if the reply is not satisfactory according to the proper officer, the amount may be demanded under section 73 or section 74, depending on the case.
Post a Comment