Points to be consider before filing GSTR-3B/GSTR-1 for September 2018

Point No.1-  Reconciliation of ITC availed in GSTR-3B with the books:

Reconciliation of ITC availed in books and that availed in GSTR-3B to avail ITC within time frame.

Point No.2- Reconciliation of ITC availed in GSTR-3B with ITC available as per GSTR-2A:

There are many reasons for difference between credit availed under GSTR-3B & credit appearing under GSTR-2A. For example:

  • Company not received invoice from Vendor.The company is required to follow up with the vendor and get the invoices and then avail ITC within the time prescribed above.
  • Bank Charges Invoice not Received from Bank:- The company is required to follow up with the bank and get the invoices and then avail ITC within the time prescribed above.
  • GSTIN not provided to the vendor :- The company must get the invoices amended from the vendor as B2B before availing the ITC and assure that the vendor rectifies the same in  GSTR-1 not later than GSTR-1 for the month of September 2018.

Point No.3 ITC available on distribution by ISD:

It is advised that all  ITC distributed on ISD invoices issued in July 2017 to March 2018, shall be availed on or before due date of Sept 2018 return.

Point No.4 Debit note issued during 2018-19 by vendor for invoices issued in 2017-18:

As per section 16 (4) of Central Goods and Services Tax Act, ITC on debit note issued by vendor during the current year i.e. 2018-19 which is pertaining to invoices raised in 2017-18 has to be availed before due date of filing of annual return OR before due date of filing GSTR-3B for the month of September 18, whichever is earlier. Therefore, the company has to evaluate all the debit notes issued during the period April 2018 to September 2018  pertaining to the original to Invoices issued during the period July 2017 to March 2018. E.g. ITC on debit note issued by vendor in April’18 against the original invoice pertaining to March’18 has to be availed on or before due date of Sept 2018 return.

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