TaxTMI 
TaxTMI 
TaxTMI 
Query 1: Our as our GST portal account Credit Ledger shows balance of ₹ 13,22,658.00 for the month of July and the payable as per the Liability ledger for July shows Rs. 6,06,618.00.
Hope we need not pay anything for July. We have submitted our account but when we try to file it asks to clear the liability first for Rs. 6,06,618.00 without considering the credit of Rs. 13,22,658.00.
Please help.
Query 2: At the time of GSTR 3B filing We entered the Outward supplies Taxable Value and Tax Values and Inwards Supply's Tax Value. After submitted the 'Payment of Tax' column is shown Tax Liability as our full sales Tax value. The value is not less my Input Tax. So, what can I do in this situation?
Ans: After filling all required details in GSTR-3B, many dealers, on seeing the liability amount in column 6.1 (Payment of tax) , are shocked and think to pay the amount.
But, this is unadjusted amount. We can adjusted it to particular ITC and Cash payments.
Let us take an example.
XYX and Co., total supplied goods and Services ₹ 10,00,000.00 (Ass. Value) Taxes are IGST ₹ 10,000, CGST ₹ 15000 and SGST ₹ 15000. ITC available as IGST ₹ 8,000, CGST ₹ 13,000 and SGST ₹ 13,000. RCM related liability ₹ 2500 (CGST ₹ 1250 & SGST ₹ 1250). Already paid, the liability amount ₹ 6,000 and ₹ 2500 as cash. After entering the values in outward supplies in Column no 3.1 and Inward supplies in Column no 4.
So, we need to follow the below process:
After save and submit the return the 'Payment of Tax' Column show the liability of ₹ 40,000. But, don't be panic on seeing the value of the tax liability.
We can adjust the tax liability as below:
Tax Liability – ITC = Tax Payable
⇓
Tax payable – Tax paid in Cash = Zero (Tax Liability)
How to adjust this in GSTR-3B
You just open the 'Payment of Tax' box as given column 6.1 (Payment of Tax).
It is showing as below:
After ABC and Co, offset (adjust) the ITC available in the following way:
After Offset (adjustment) the liability is ZERO.
So, The system/GSTN portal can't adjust the ITC.
We only have to adjust our ITC to the TAX Liability.
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The author is a practising CA based in Delhi and is registered Insolvency Professional. He can be reached at [email protected] , Mob. +91 9953587496.