Goods and services tax is a major tax structure implemented through India with a scope of tighter compliances and revenues for the government. In the wake of this fact, many of the GST officials are trying hard to account for every taxable transaction.
It is very well known that in many cases there were notices issued to the taxpayers for incorrect GST filing in the states of Gujarat, Karnataka and Hyderabad. It is to be learnt that these notices might have been served in different states also.
The notices are basically served upon the mismatch in the ITC of GSTR 2A and GSTR 3B. While the notices were served on the basis of 2 months of returns including July to September and October to December.
The notice stated that “in these three months, this is what is reflected in GSTR 2A and this what you’ve claimed as credit as per GSTR- 3B. So, either explain the difference in 30 days or pay the balance.”
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The vendors will have to input all the details of sales to realize the ITC for the purchaser, and in case if vendors don’t do this, than the option is, “If they don’t do that, as a purchaser you’re supposed to reverse the credit, along with interest, and you can avail it when the vendor adds the entire sales data.”
The law provides 30 days to reply but the GST officers at their own discretion have shortened the timeline to 3 – 5 days as it will get them more work to solve thew GST evasion. There are lot more chances for the mismatch in return filings details, and it is suggested one should get a Gen GST e-filing software for the accuracy of the data before uploading.
