Priority Action Before Sept GST Returns

Summary Priority Action Items for Financial Years 2020-21 Before September 2021 Returns: GST

Action must be performed on or before September 2021 GST Returns are due –

1. Reconcile the INPUT TAX CREDIT in GSTR 2A/2B with the Inward Register.
2. Claim with missing INPUT TAX CREDIT does not show in Purchase Register
3. Follow up with suppliers who have not provided you with invoice data for sales made to you.
4. Reconcile whether invoices raised to customers are recorded in B2B (customers with GSTIN) or B2C (customers without GSTIN) (URD customers)
5. Reconcile turnover reported matches the books of account as well as GSTR1/3B.
6. Issue any outstanding credit notes for taxable outbound supply.

Also read:

• Avoidance of GST Registration Suspension
• Overview of GST Audit & its Procedures

We have developed different situations in which taxpayers may have erred in providing details in returns for 2020-21, as well as technique to correct the same in GSTR 1 or GSTR 3B of the September 2021 GST Returns, which is rapidly coming.

Sl. No.	Issue Type	Return Type	Action to be taken in GST Returns	Table Reference in GST Returns
1	Missed to disclose domestic taxable outward supply transaction GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Disclose the domestic taxable outward supply transaction in GSTR-1 to be filed for September 2021	4A, 4B, 4C, 6B, 6C – B2B 5A, 5B – B2CL 7 – B2CS
		GSTR-3B	Add taxable turnover and tax liability in GSTR-3B to be filed for Sept’ 2021 along with Interest	3.1 (a) – Outward Taxable Supplies (Other than Zero Rated, NIL and Exempted)
2	Missed to disclose export outward supply transaction in GST Returns pertaining to any of the tax period April 2020-March 2021. Missed to update shipping bill & port code details for export transactions disclosed in the GST Returns during the period April 19-March 2020	GSTR-1	Disclose the export outward supply transaction in GSTR-1 to be filed for September 2021 Amend the export transaction with shipping bill details & port code	6A – Exports 9A – B2B, B2CL & Exports Amendment
		GSTR-3B	Add taxable turnover and tax liability in GSTR-3B to be filed for Sept’ 2021 along with Interest	3.1 (b) – Outward Taxable Supplies (Zero Rated)
3	Missed to disclose Debit Note / Credit Note transaction in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Disclose the CN/DN transaction in GSTR-1 to be filed for September 2021	9B – CNDN (B2B, B2CL & Exports)
		GSTR-3B	Adjust CNDN taxable value and tax liability in GSTR-3B to be filed for September 2021	3.1 (a) & 3.1 (b)
4	Missed to disclose advance tax liability (for supply of goods)  in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Disclose the advance tax liability in GSTR-1 to be filed for September 2021	11A (1) – Advance Tax Liability
		GSTR-3B	Add advance value and tax liability in GSTR-3B to be filed for September 2021	3.1 (a) & 3.1 (b)
5	Missed to adjust advance tax liability in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Adjust the tax liability in GSTR-1 to be filed for September 2021	11B (1) – Adjustment of Advances
		GSTR-3B	Adjust advance value and tax liability in GSTR-3B to be filed for September 2021	3.1 (a) & 3.1 (b)
6	Incorrectly disclosed advance tax liability in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Adjust the advance tax liability in GSTR-1 to be filed for September 2021	11A – Advance Tax Liability
7	Incorrectly adjusted advance tax liability in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Correct the advance tax liability adjustment in GSTR-1 to be filed for September 2021	11B – Advance Tax Liability
8	Furnished incorrect Tax Invoice / CNDN No., Tax Invoice / CNDN Date, POS, Customer GSTIN, Tax Rate, Tax Amount, Taxable Value & Invoice Value in GST Returns pertaining to the outward supply transaction for the period April 2020-March 2021	GSTR-1	Amend the tax invoice / CNDN document with correct details as mentioned on the Tax Invoice in GSTR-1 to be filed for September 2021	9A – B2B, B2CL & Exports Amendment 9C – CNDN Amendment 10 – B2CS Amendment
		GSTR-3B	Adjust the taxable turnover & tax liability to the extent of correction in GSTR-3B t be filed for September 2021	3.1 (a) & 3.1 (b)
9	Missed or incorrectly disclosed outward nil rated, exempt & non-GST supply in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-1	Add / correct outward nil rated, exempt & non-GST supply figures in GSTR-1 to be filed for September 2021	8A, 8B, 8C & 8D – Nil Rated, Exempt & Non-GST Supply
		GSTR-3B	Add / correct outward nil rated, exempt & non-GST supply figures in GSTR-3B to be filed for September 2021	3.1 (c) & 3.1 (e)
10	Missed or incorrectly disclosed inward nil rated, exempt & non-GST supply in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-3B	Add / correct inward nil rated, exempt & non-GST supply figures in GSTR-3B to be filed for September 2021	5 – Inward Nil Rated, Exempt & Non-GST Supply
11	Missed or incorrectly disclosed RCM taxable value & tax liability in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-3B	Add / correct RCM taxable value & tax liability figures in GSTR-3B to be filed for September 2021	3.1 (d)
12	Missed to avail eligible ITC in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-3B	Avail missed ITC in GSTR-3B to be filed for September 2021	4A – ITC Available (B2B, RCM, Import)
13	Availed excess ITC in GST Returns pertaining to any of the tax period April 2020-March 2021	GSTR-3B	Adjust the excess claimed ITC in GSTR-3B to be filed for September 2021	4A – ITC Available (B2B, RCM, Import)
14	Missed to reverse ITC on account of non-payment to suppliers within 180 days from the date of invoice during the period April 2020-March 2021	GSTR-3B	Reverse proportionate ITC to the extent of non-payment to the suppliers beyond 180 days from the date of the invoice in GSTR-3B to be filed for September 2021	4B (2) – Other Reversal
15	Missed to reverse ITC on account of partly exempt / non-GST and partly taxable supplies in GST Returns during the period April 2020-March 2021	GSTR-3B	Reverse proportionate ITC as per the calculation u/r 42 & 43 of  CGST Rules 2017 in GSTR-3B to be filed for September 2021	4B (1) – Reversal as per Rule 42 & 43
16	Missed to disclose Ineligible ITC in GST Returns during the period April 2020-March 2021	GSTR-3B	Disclose in-eligible ITC in GSTR-3B to be filed for September 2021	4D – In-eligible ITC
17	Missed to discharge interest liability on account of delay in payment of tax or reversal of ITC claimed in excess in GST Returns during the period April 2020-March 2021	GSTR-3B	Disclose interest liability in GSTR-3B to be filed for September 2021	5.1 – Interest & Late Fees
18	Excess reversal of ITC in GST Returns during the period April 2020-March 2021	GSTR-3B	Avail wrongly reversed ITC in GSTR-3B to be filed for September 2021	4A – ITC Available (B2B, RCM, Import)

Conclusion :

• Taxpayer take away from above contains  In the GST Law, there is no provision for correcting a return. The GST department, on the other hand, has given taxpayers enough time to correct their faults and mistakes, with September being the deadline.
• There are no more adjustments or corrections that can be made after the September 2021 return is filed. As a result, taxpayers must reconcile their books and returns, as well as make any final changes, if any, within the time frame to avoid interest and a slew of other problems.

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