Solved Queries
Ques: as per sec 56, Refund arising out of Adjudicating authority,First appellate authority, Appellate tribunal. If not refunded within 60 days of the application filed consequent from appellate order then interest would be applicable at 9% for the period of delay beyond sixty days from the date of receipt of such application till the date of refund of such tax, to be computed in such manner and subject to such conditions and restrictions as may be prescribed.
as per my understanding after reading section 56, interest should be given to us after expiry of 60 days from the date of new application filed for interest till refund recieved as it is mentioned there ” the same is not refunded within sixty days from the date of receipt of application filed consequent to such order”. Application filed conequent to such order means new application filed after filing appeal. so please clarify from where interest should be provided in case of appeal order. frm 1st application filed or consequent
Ans: The same will be from subsequent appeal
Ques: During FY 2019-20, we issed credti Notes in three months and duly reported these in GSTR 1. But due to these credit notes the net turnover resulted in (-) negative turnover being reported in GSTR 1.
While filing GSTR 3B we matched with GSTR 2B and in addition the net negative outward liability reported in GSTR 1 due to credit notes was taken as input in the respective months assuming that if we had positive turnover it would have resulted in reduced outward liability in GSTR 1.
Now assessing officer is not accepting this treatment of negative turnover due to credit notes.
Kindly porive guidance in this matter and if available, then case laws also. I wated to share the reply we submitted. How can I share the same for your kind consideration.
Ans: Correct treatment is to report less liability in subsequent month(s) GSTR-3B as compared to GSTR-1. Availment of ITC to the extent of credit notes balance negative amount will result in procedural lapse. There are numerous judgments and circulars on procedural lapse e.g. Circular No. 8/8/2017 GST dated 04 October 2017) clarified situation related to delay in filing of LUT. You can also substantiate your stand through GSTR-09, where we believe correct figures were reported.
Ques: Sir one of my client for the month of March-24 has filed GSTR-1 correctly and declared all tax liabilities accurately also they have deposited all the tax in GST electronic cash ledger before due date but mistakenly at time of filing of GSTR-3B they filed it for nil they discuss their concern with GST department they suggested them to set off the liability in April-24 GSTR-3B along with interest. As per our knowledge interest should not be levied as we have already deposited the tax before filing of GSTR-3B
Please provide us with your expert view
Early reply will be appreciated
Ans: The issue you have highlighted is discussed in the judgement matter of M/s Eicher Motors Limited, wherein Madras High Court has ruled that deposit of Tax in Electronic Cash Ledger is equivalent to deposit in Government Account and accordingly, Interest u/s 50 not leviable.
Please refer the judgement by click below link on Taxo
