GST in India - Amendment Scenarios
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Compliance in GST is much more complex and strict than in any of the present law. In GST it will be desired to have accurate filings as there is no provision of revising a return once filed. However, to err is human and this fact is recognised by the government. So how does one rectify the errors in already filed returns? A taxpayer can "amend" details of returns already filed by providing relevant details in the next return to be filed. Let us see what are the situations in which amendment will have to be done by the taxpayer.
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GST in India - Amendment Scenarios
- 3. SCENARIO 01 Ideal Scenario SUPPLIER FILES GSTR - 1 XLSXLS GSTR-1 PURCHASER DOWNLOADS GSTR 2A GSTR-2A NO CHANGES WERE MADE WHILE UPLOADING GSTR-2 BY THE PURCHASER XLS GSTR-2 www.sahigst.com DONE NO ACTION REQUIRED
- 4. SCENARIO 02 Changes Done By Purchaser And Accepted By Supplier SUPPLIER FILES GSTR-1 XLSXLS GSTR-1 PURCHASER DOWNLOADS GSTR-2A GSTR-2A CHANGES MADE WHILE UPLOADING GSTR-2 BY THE PURCHASER. XLS GSTR-2 SUPPLIER GETS THE DETAILS OF CHANGES IN GSTR 1A GSTR-1A SUPPLIER ACCEPTS AND AMENDS IN GSTR-1 ACCEPTED XLS www.sahigst.com
- 5. SCENARIO 03 Mistake Of The Purchaser SUPPLIER FILES GSTR - 1 XLSXLS GSTR-1 PURCHASER DOWNLOADS GSTR 2A GSTR-2A SUPPLIER GETS THE DETAILS OF CHANGES IN GSTR 1A GSTR-1A SUPPLIER DOES NOT ACCEPT CHANGES DECLINED XLS SUPPLIER INFORMS THE PURCHASER ABOUT HIS MISTAKE CHANGES MADE WHILE UPLOADING GSTR-2 BY THE PURCHASER. XLS GSTR-2 NO ACTION PURCHASER AMENDS IN GSTR-2 OF THE SUBSEQUENT MONTH www.sahigst.com
- 6. SCENARIO 04 Mistake Of The Supplier SUPPLIER AMENDS IN GSTR-1 OF THE SUBSEQUENT MONTH SUPPLIER FILES GSTR - 1 XLSXLS GSTR-1 PURCHASER DOWNLOADS GSTR 2A GSTR-2A SUPPLIER GETS THE DETAILS OF CHANGES IN GSTR 1A GSTR-1A CHANGES MADE WHILE UPLOADING GSTR-2 BY THE PURCHASER. XLS GSTR-2 SUPPLIER ACCEPTS CHANGES BUT FAILS TO UPDATE Changes Update MISMATCH REFLECTED IN ITC-1 ITC-1 MISMATCH FOUND www.sahigst.com
- 7. SCENARIO 05 Error Not Rectified By Supplier SUPPLIER DOES NOT AMEND IN GSTR-1 OF THE SUBSEQUENT MONTH SUPPLIER FILES GSTR - 1 XLSXLS GSTR-1 PURCHASER DOWNLOADS GSTR 2A GSTR-2A SUPPLIER GETS THE DETAILS OF CHANGES IN GSTR 1A GSTR-1A CHANGES MADE WHILE UPLOADING GSTR-2 BY THE PURCHASER. XLS GSTR-2 SUPPLIER ACCEPTS CHANGES BUT FAILS TO UPDATE IN GSTR 1A CHANGES UPDATE MISMATCH REFLECTED IN ITC-1 ITC-1 MISMATCH FOUND ITC DENIED TO THE PURCHASER AND HIS OUTPUT TAX LIABILITY INCREASES ITC-1 ITC DENIED GSTR-1 www.sahigst.com
- 8. SCENARIO 06 Rectification After The Closure Of Financial Year SUPPLIER DOES NOT AMEND IN GSTR-1 OF THE SUBSEQUENT MONTH SUPPLIER FILES GSTR - 1 XLSXLS GSTR-1 PURCHASER DOWNLOADS GSTR 2A GSTR-2A SUPPLIER GETS THE DETAILS OF CHANGES IN GSTR 1A GSTR-1A CHANGES MADE WHILE UPLOADING GSTR-2 BY THE PURCHASER. XLS GSTR-2 SUPPLIER ACCEPTS CHANGES BUT FAILS TO UPDATE CHANGES UPDATE MISMATCH REFLECTED IN ITC-1 ITC-1 MISMATCH FOUND ITC DENIED TO THE PURCHASER AND HIS OUTPUT TAX LIABILITY INCREASED ITC-1 ITC DENIED GSTR-1 SUPPLIER ACCEPTS HIS MISTAKE LATER AND AMENDS IN THE SUBSEQUENT RETURN GSTR-1 20 SEPT MONTH OF SEPTEMBER (20th) SUCCEEDING THE FINANCIAL YEAR FILING OF ANNUAL RETURN OF THAT FINANCIAL YEAR ANNUAL RETURN WHICHEVER IS EARLIER www.sahigst.com
- 9. THANK YOU For More Information on GST, Visit Our Knowledge Centre https://sahigst.com/knowledge/ www.sahigst.com