Regrding sales of loose bill to be shown in GSTR-9 & IT Return

[YASH JAIN]

If turnover is 20000000 in GST and during GST raid some loose bill amounting to 1000000 received on which client paid tax & penalty then how to show 1000000 & that tax amount in GSTR-9 and how to report that sales in ITR & Audit report

AI Summary

Taxpayer pays tax and penalty on Rs 1 crore loose bills found during raid, seeks GSTR-9 reporting guidance A taxpayer with Rs. 20,000,000 turnover discovered loose bills worth Rs. 1,000,000 during a GST raid, on which tax and penalty were paid. The query concerns proper reporting of this amount in GSTR-9 annual return and income tax return with audit report. A respondent sought clarification on the meaning of 'loose bill' and advised that if the amount was paid through regular returns, it would automatically appear in GSTR-9, otherwise it needs to be manually added. The discussion highlights compliance challenges when undisclosed sales are discovered during tax enforcement actions and the need for proper reporting across GST and income tax frameworks.