GST UPDATE

Desk of CA. Praveen Sharma

Series- 400

Today's Topic: Rule 88C - Most Dangerous Rule for Suppliers

Link: https://youtu.be/zf3vweAPBf8

1- Manner of dealing with difference in liability reported in statements of outward supplies and that reported in return. 

2-This is likely to affect the taxpayers in case of any inconsistency in filings of GSTR-1 and GSTR-3B.

3-Tax payable as per R1/IFF > Tax payable as per 3B (Amount or %),

4-Intimation shall be sent to the RP of such difference to his e-mail address in Part-A of Form GST DRC-01B.

5-Directing to pay the differential tax liability + Interest ? DRC-03 or Explain with in 7 days.

Regards

CA. Praveen Sharma