A very significant month has arrived for all the taxpayers under GST i.e. September as it will be the last month for the taxpayer to claim any pending credits for the invoices issued between 2017-18 time period and to rectify any error in the return form of the year.
Many of taxpayers had done multiple errors in their tax return filing including omissions of the transaction at certain places while errors of inflated or incorrect credit claims even under-reporting of credit claims.
As per the GST rules and regulations, if in case any taxpayer left behind in claiming input tax credit of invoice for the year FY 2017-18 can now claim the same in the month of September.
Also if the taxpayer had forgotten any of the debit or credit note issued in the FY 2017-18 of monthly GST return forms, may rectify the errors in the month of September.
It must be noted that the in case if a taxpayer does no action against the errors and omission in the details of GST return filing furnished in the FY2017-18 eventually in the September return form then there will be no chance further.
The GST council is going under the process to introduce a new GST return form which is to be effectively rolled out on 1 January 2019. The forms will bring more accuracy to match invoices of both suppliers and buyers based on claims made by taxpayers.
Sir,
for f.y. 17-18 we have recd DN for returned goods in huge volume without against inv no. so we booked entries as Purchase instead of CN after verbal communication with parties saying pls send us to sell invoice instead of DN.
and I have claimed the ITC in GSTR 3B separately instead of the reduction in sales liability.
now I cannot see any tax credit in GSTR2B
You cannot do the same as CN to be issued in respect of sales return and since you have booked purchase against CN the parties will not treat it as sale and will not show in their GSTR-1 corresponding to which no credit shall be available in GSTR-2A. Rectify GSTR-3B and 1 and reduce sales liability as the input tax credit is not allowed for DN.
Sir,
I have made a mistake in July & August’17 GSTR1 Return, where I put wrong debtors. (Example : Put “A” party’s Sale to “B” Party and vice versa.). Could I rectify this errors now? If, yes how.
And another mistake in GSTR3B in March’2018 that I have put short ITC. Could I rectify this errors now? If, yes how.
Kindly answer my questions and also advice how to rectify all these errors in GST Returns.
In next GSTR 1 return make amendment in the respective section by amending party B instead of party A. For ex. if data is entered wrong in B2B make amendment in B2BA section in next return. Yes, in next GSTR-3B you can enter rest of your ITC in that column again.