Q778. One of our Client is involved in supplying SMS and CPas Infra services. During the month of March 2023 they have given services to their clients but Invoice was raised on 3rd April 2023 and same was filed on GST portal in GSTR 1 of April month. Company has accounted the sales in their books in the month of March. Now there is a mismatch between books and GST Portal. Now, how shall we adjust the same in GSTR 9?

Ans:  We understand that this income is in the nature of unbilled revenue, you can disclose the same in GSTR-9C. No option to dislcose unbilled revenue in GTSR-09.

Q777. Can You clarify that we migrated from VAT regime to the GST regime, from 01.07.2017 onwards, our business was registered under the TOT Scheme (Tax on Turnover) under the VAT regime. Under the TOT Scheme, we did not claim any Input Tax Credit (ITC) on our purchases. Instead, we paid a fixed percentage on our turnover, similar to the mechanism employed under the GST Composition Scheme.

In light of this, is it correct to assume that there was no requirement for us to submit an ITC-03

Ans: Generally., composition dealers are not allowed to carry forward input tax credit/CENVAT from old regime to GST regime therefore there is no requirement to file ITC-03 at the time of migration.

Q776. Sir, I have a case for GST audit. 2017 -18 The outstanding liability arising within him On top of that, the department is paying interest on that amount. example 48000 liability and interest 53000/- is this possible And if not then by what rule is it imposed?

Ans: Where delay is more than 5 year, interest may cross tax amount.