GSTR 1A Finally!!!!

We are always short of time and always sitting on due dates and this always results in inadvertent mistakes, especially when dealing with complex tax filings like GST. But these errors have always caused discrepancies with our buyer's records and definite scrutiny from tax authorities.

GSTR-1A – What it brings to the table

GST Council brought a new form, long due but welcome change - GSTR-1A. This form allows you to amend errors and declare additional details after filing your initial GSTR-1.

Basically after filing the GSTR 1 you get a chance to correct any inadvertent mistake and discharge the correct tax liability in GSTR 3B.

GSTR-1A is a document containing changes made to sales invoices reported in GSTR-1.

The information would come from the buyer’s?GSTR-2B?when he modified any data. The seller could either accept or reject the changes. Changes accepted by the seller would have automatically reflected in the?GSTR-3B.

It is to be noted GSTR-1A contain only the amendments to GSTR-1 details of the given month.

Points :

1.??? No GSTIN amendment can be done by GSTR 1A, it is only possible through GSTR 1 (Table 9)

2.??? Table 9 of GSTR 1 to continue to capture amendments to GSTR 1 for a limited period.

3.??? If the GSTR 1A is filed after 12th/13th the same will get reflected in GSTR 2B of the next month.

4.??? Interest will be applicable incase excess ITC taken by following GSTR 2B but thereafter details rectified in GSTR 1A. Hence the ITC to be taken based on ITC register.

5.??? In case of export with payment of duty or SEZ Supplies there would be no under reporting of values in GSTR 1. Refund mechanism would face less scrutiny from department as everything will match.

6.??? Reconciliation of GSTR 1 vs GSTR 3B now easier as any discrepancy can be corrected by filing GSTR 1A. Adjustment of output liability in case of any discrepancy between 1 and 3B not to be adjusted in next months GSTR 1.

7.??? GSTR 2B check to be done more meticulously as now PR vs 2B/2A data is important. ??