https://www.taxtmi.com/forum/issue?id=117946 Missed prior-year invoice declared later should be regularised by declaring the tax liability and paying tax with interest, preferably via GSTR 3B within the same financial year to evidence bona fides and reduce notice risk. If liability is discharged after the original financial year, DRC 03 is an alternative, but portal updates and proposed financial-year reconciliation of GSTR 1 and GSTR 3B make carrying prior-year liabilities into the next financial year's GSTR 3B inadvisable; interest must be applied on a gross basis when selecting the mechanism. en-us Sat, 07 May 2022 17:59:34 +0530 Thu, 23 Jan 2025 15:54:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117946 Missed prior-year invoice declared later should be regularised by declaring the tax liability and paying tax with interest, preferably via GSTR 3B within the same financial year to evidence bona fides and reduce notice risk. If liability is discharged after the original financial year, DRC 03 is an alternative, but portal updates and proposed financial-year reconciliation of GSTR 1 and GSTR 3B make carrying prior-year liabilities into the next financial year's GSTR 3B inadvisable; interest must be applied on a gross basis when selecting the mechanism. Discussion-Forum GST Sat, 07 May 2022 17:59:34 +0530 https://www.taxtmi.com/forum/issue?id=117946