Dear Experts,
1.Where to show in GSTR-9C a taxable supply not being recorded in Books of accounts together with its GST (Qualification in Audit report exists for not paying or providing for it ).The same is also not mentioned in GSTR-9 also and GST is not paid via DRC 03.
2.If the client is not ready to pay such liability if the same is mentioned as per point 1 above, can the audit report be delivered by a qualification without paying such liability via DRC 03.?
Unrecorded Taxable Supplies in GSTR-9C: Pay GST Liability via DRC-03 to Avoid Penalties and Document Discrepancies. A query was raised regarding the disclosure of unrecorded taxable supplies in GSTR-9C and the implications if a client refuses to pay the GST liability. One expert clarified that GSTR-9C is a reconciliation statement between financial statements and GSTR-9, and unrecorded supplies should not be shown in GSTR-9C. Qualifications should be included in the audited annual accounts. Another expert emphasized that admitted GST liabilities must be paid via DRC-03 with interest to avoid penalties, and any discrepancies should be documented in the auditor's report. Failure to pay would require the auditor to note the pending tax payment in their report. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
