One of my clients was having refund of GST rs 12,98,887.00 during the FY 20-21. It was refund claimed for input gst accumulated on purchases against export . I have given the same in 3CD under clause 16 (b) “The proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added tax, or refund of GST, where such credits, drawbacks or refunds are admitted as due by the authorities concerned” .
Now notice under sec 143(1) came stating that, Adjustments u/s 143(1)(a)(iv).There is inconsistency in amount mentioned in return at Sl. No. 5(b) of Part A OI “The proforma credits, drawbacks, refund of duty of customs or excise or service tax, or refund of sales tax or value added tax, or refund of GST, where such credits, drawbacks or refunds are admitted as due by the authorities concerned” and Tax audit report.
This amount is not taxable as it is only refund of GST input credit. What is the solution. Do I need to revise Form 3D and Is it possible now?
September 3, 2022 at 6:38 am