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RU
Year-Shift in GST Reporting Requires Detailed Reconciliation: ITAT Hyderabad
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taxguruin
GST vs Income Reconciliation Dispute-ITAT Hyderabad Calls for Detailed ReconciliationAssessee, engaged in manufacture of engineered quartz slabs, had filed return declaring NIL income.
These exports were already recorded in books & audited accounts of that year but inadvertently not shown in GST returns since exports are zero-rated.
Supporting documents such as invoices & GST returns were produced.
2019-20 & were denominated in USD, but proper reconciliation between books, GST returns & financial statements for both years was essential.
2019–20 was omitted from the GST returns of that year and later reported in the GST return of F.Y.
['assessee'
'yearshift'
'order'
'reporting'
'reconciliation'
'gst'
'detailed'
'requires'
'ao'
'fy'
'itat'
'returns'
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'201920'
'hyderabad']