{"id":18780,"date":"2024-06-23T11:56:12","date_gmt":"2024-06-23T11:56:12","guid":{"rendered":"https:\/\/jammubulletin.com\/site\/?p=18780"},"modified":"2024-06-23T11:56:12","modified_gmt":"2024-06-23T11:56:12","slug":"taxpayers-can-amend-sales-return-form-before-gst-payment","status":"publish","type":"post","link":"https:\/\/jammubulletin.com\/site\/taxpayers-can-amend-sales-return-form-before-gst-payment\/","title":{"rendered":"Taxpayers Can Amend Sales Return Form Before GST Payment"},"content":{"rendered":"<p>NEW DELHI, June 23: <a href=\"https:\/\/jammubulletin.com\/site\/i-t-dept-asks-taxpayers-to-link-pan-with-aadhaar-by-may-31-to-avoid-higher-tds-deduction\/\">GST taxpayers will now have the option to amend<\/a> outward supply or sales return form GSTR-1 before payment of taxes for a month or quarter. The GST Council in its meeting on Saturday had recommended providing a new optional facility by way of Form GSTR-1A to facilitate taxpayers to amend the details in Form GSTR-1 for a tax period and\/or to declare additional details.GSTR-1A will, however, have to be filed before filing of return in GSTR-3B for the said tax period.<br \/>\nThis will facilitate the taxpayer to add any particulars of supply of the current tax period missed out in reporting in form GSTR-1 of the said tax period or to amend any particulars already declared in GSTR-1 of the current tax period (including those declared in IFF, for the first and second months of a quarter, if any, for quarterly taxpayers), to ensure that correct liability is auto-populated in GSTR-3B.<br \/>\nCurrently, GST taxpayers file outward supply return GSTR -1 by the 11th day of the subsequent month. Taxpayers with an annual turnover of up to Rs 5 crore can file GSTR-1 quarterly within the 13th day of the end of the quarter.<br \/>\nShardul Amarchand Mangaldas &amp; Co Partner Rajat Bose said this is a positive change recommended by the council from a compliance perspective and will facilitate ease of doing business.<br \/>\nAbhishek Jain, Indirect Tax Head &amp; Partner, KPMG, said allowing revision of filings made in GSTR-1 is a good move to rectify clerical and inadvertent errors before the payment of taxes and curtailing unwarranted notices for reconciliation of disclosures in GSTR-1 and payment of taxes vide GSTR-3B.<br \/>\n\u201cIt\u2019ll be interesting to see the mechanism for a population of GSTR-2B for the recipient and the time gap available to the recipient for reconciling credits,\u201d Jain added.<br \/>\nBDO India Indirect Tax Partner Maulik Manakiwala said the introduction of Form GSTR-1A to report particulars which were missed during the submission of GSTR 1 indicates that through proactive consultation with industry, the government\u2019s intention is to simplify GST law and ease compliances for the assessee.<br \/>\nThe GST Council also recommended that taxpayers having aggregate annual turnover up to Rs two crore are exempt from filing annual returns in form GSTR-9\/9A for the FY 2023-24<\/p>\n<figure id=\"attachment_18781\" aria-describedby=\"caption-attachment-18781\" style=\"width: 300px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-18781\" src=\"https:\/\/jammubulletin.com\/site\/wp-content\/uploads\/2024\/06\/Screenshot-2024-06-23-at-5.17.05-PM-300x167.png\" alt=\" Taxpayers Can Amend Sales Return Form Before GST Payment\" width=\"300\" height=\"167\" \/><figcaption id=\"caption-attachment-18781\" class=\"wp-caption-text\">Taxpayers Can Amend Sales Return Form Before GST Payment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI, June 23: GST taxpayers will now have the option to amend outward supply or sales return form GSTR-1 before payment of taxes for a month or quarter. The GST Council in its meeting on Saturday had recommended providing a new optional facility by way of Form GSTR-1A to facilitate taxpayers to amend the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6,89],"tags":[],"class_list":["post-18780","post","type-post","status-publish","format-standard","hentry","category-business","category-national"],"gutentor_comment":0,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Taxpayers Can Amend Sales Return Form Before GST Payment<\/title>\n<meta name=\"description\" content=\"GST taxpayers will now have the option to amend outward supply or sales return form 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