Businesses to declare mismatch in GST returns form,outward supplies in annual returns

Finance Ministry said any mismatch in GST monthly sales return and outward supply details will have to be reported in annual return form and due taxes should be paid.

In a clarification on annual returns and reconciliation statement, the ministry said it has received queries from businesses asking whether the primary source of data for filing of the annual return and the reconciliation statement should be GSTR-1, GSTR-3B or books of accounts.
While form GSTR-1 is an account of details of outward supplies, GSTR-3B is where the summaries of all transactions are declared and payments are made.
The ministry said information in form GSTR-1, GSTR-3B and books of accounts should be synchronous and the values should match across different forms and the books of accounts.
It also said if a taxpayer has not paid, short paid or has erroneously obtained/ been granted refund or has wrongly availed or utilised ITC then before the service of a notice by any tax authority, the taxpayer may pay the amount of tax with interest. In such cases, no penalty will be levied on such taxpayer.
GSTR-9 is the annual return form for normal taxpayers, GSTR-9A is for composition taxpayers, while GSTR-9C is a reconciliation statement.
 

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