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.
