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What will happen if the details remain mismatched?

QuestionsCategory: GSTWhat will happen if the details remain mismatched?
Profile photo of BishalJainBishalJain Staff asked 9 months ago

What will happen if the details remain mismatched?

1 Answers
Profile photo of AdviKaurAdviKaur Staff answered 9 months ago

As per section 43C (8), the value of a supply relating to any payment in respect of which any discrepancy is communicated and which is not rectified by the supplier in his valid return for the month in which discrepancy is communicated shall be added to the output liability of the said supplier, for the calendar month succeeding the calendar month in which the discrepancy is communicated. The concerned supplier shall, in whose output tax liability any amount has been added shall be liable to pay the tax payable in respect of such supply along with interest, at the rate specified under sub-section (1) of section 36 on the amount so added from the date such tax was due till the date of its payment.