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Dear Professional Colleagues,

Greetings of the Day !


The Goods and Services Tax Network has issued Advisory regarding Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B) dated June 29, 2023. 

Highlights

  • It is informed that GSTN has developed a functionality to enable the taxpayer to  explain the difference in GSTR-1 & 3B return online as directed by the GST Council.
  •  This feature is now live on the GST portal.
  • The functionality compares the liability declared in GSTR-1 with the liability paid in GSTR-3B for each return period. If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, the taxpayer will receive an intimation in the form of DRC-01B.
  •  Upon receiving an intimation, the taxpayer must file a reply in Form DRC-01B Part B, providing clarification through reason in automated dropdown and details regarding the discrepancy, if not included in the dropdown.

Hope you find it interesting and useful to read.

For any clarification/ feedback, feel free to write us at amrg@amrg.in.


Best regards,

AMRG Team


   


About Us

AMRG & Associates is an established Chartered Accountants firm. It came into existence in 1984 and since then has grown its branches across major Indian cities such as Delhi, Mumbai and Chandigarh. Since its inception, it has become one of the leading chartered accountants’ firms in North India. AMRG & Associates offers its clients a wide range of exceptional services through the expertise of its highly motivated group of trained professionals. The firm provides expertise in financial and business advisory, tax and regulatory, audit and assurance and risk advisory services.

AMRG & Associates has a client base of 200+ companies & individuals. The firm's approach to service delivery helps to provide value-added services to its wide clientele. Our differentiation is derived from a rapid performance based, industry-tailored and technology-enabled business advisory services delivered by talented professionals in the country.


Corporate office (Delhi, India) : AMRG Tower, 23, Paschim Vihar Extension, Main Rohtak Road, New Delhi -110063, T - 011-47322696 / 97

Branch office (Mumbai, India) : Shop no 14,Adarsh Nagar Bldg No 4,Kolbad, Thane West 400601.

Branch office (Sydney, Australia) : Unit 9, 14-15 Junia Avenue, Toongabbie NSW 2146,

Sydney, Australia.

International Desk (USA) : Wiener & Garg LLC 6000 Executive Boulevard, Suite 520 |

Rockville, MD 20852, T - 301.881.4244 | D - 240.833.4002

 

© -2022 AMRG & Associates All Rights Reserved. This document has been written for the general interest of our clients and professional colleagues and is subject to change. This document is not to be construed as any form of solicitation. It is not intended to be exhaustive or a substitute for legal advice. We cannot assume legal liability for any errors or omissions. Specific advice must be sought before taking any action pursuant to this document.


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AMRG & Associates | AMRG TOWER, 23, MAIN ROHTAK ROAD, PASCHIM VIHAR EXT, NEW DELHI -110063