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SALES TURNOVER DIFFERENCE FOR COMPOSITE DEALER F.Y. 21-22

Question BankCategory: Goods & Service Tax (GST)SALES TURNOVER DIFFERENCE FOR COMPOSITE DEALER F.Y. 21-22
kollipara sundaraiah asked 1 year ago

SIR,
A composition scheme gst registered dealer sale of goods turnover rs:55 lacs show only  in CMP-08 AND GSTR4  annual return filed in f.y. 21-22.but dealer sales of goods turnover rs:64 lacs (dealer sales turnover increased stock adjustment purposes) and rents income from commerical property rs:2,40,000/- declared in income tax returns in f.y. 21-22.
query:
Dealer sales increased difference turnvover rs: 9 lacs and rental income rs:2,40,000/- show procedure in gst returns in f.y. 21-22  and difference turnover tax pay procedure.

2 Answers
ADITYA answered 1 year ago

Regarding Rent income from commercial property: –
GST @18% is applicable on Rent from commercial property. Hence the owner have to issue Tax invoice charging GST on Rent. This GST invoice is filed in GSTR-1 along with other invoices issued during the period. GST is deposited with GSTR3B.
Revision of CMP-08 and GSTR-4: –
please note that IF CMP-08 once filed cannot be revised.
Please also note that GSTR-4 cannot be revised.
Any rectification can be done in next period.
for more detail please click here

ADITYA answered 1 year ago

GST @ 18% is applicable on Rent from commercial property. 
Hence TAX invoice is required to be issued for rent income. and this invoice is to be filed with GSTR-1.
and GST is to be deposited with GSTR-3B.
 
With respect to revision of CMP-08 and GSTR-4, please note that CMP-08 and GSTR-4 once filed cannot be revised. 
any mistake may be adjusted in next period return. 
for more detail click here.

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