GST Annual Return: GSTR-9 to Allow ITC Claims & Amendment of Invoices till 30th November 2022

GST Annual Return: GSTR-9 to Allow ITC Claims and Amendment of Invoices till 30th November 2022

Amid conflicting opinions & interpretations, the CBIC has issued a notification as proposed during Budget 2022, to allow Input Tax Credit (ITC) claims and amendment of invoices till 30th November 2022.  This will write-off all confusions associated with the subject matter.

Notification No:.22 /2022 CT- dt: 15-11-2022, states that

“In the Central Goods and Services Tax Rules, 2017 (hereinafter referred to as the said rules), in FORM GSTR-9, under the heading Instructions,

in paragraph 7, –

(A) for the figures, letters and words “between April, 2022 to September, 2022”, the figures, letters and words “of April, 2022 to October, 2022 filed upto 30th November, 2022” shall be substituted;

(B) in the Table, in second column, –

(I) against serial numbers 10 & 11, for the figures and words “April, 2022 to September, 2022”, the figures, letters and words “April, 2022 to October, 2022 filed upto 30th November, 2022” shall be substituted;

(II) against serial number 12,

for the figures and words “April 2022 to September 2022”, the figures, letters and words “April, 2022 to October, 2022 upto 30th November, 2022” shall be substituted;

(III) against serial number 13,

for the figures and words “April 2022 to September 2022”, the figures, letters and words “April, 2022 to October, 2022 upto 30th November, 2022” shall be substituted.”

In line with this recent change in the GST Law the GST portal has also started allowing the amendment related to FY 2021-22 in October 2022 return period.

So, the taxpayer can amend the details of taxable outward supplies made to the registered person that is already reported in table 4A, 4B, 6B, 6C – B2B Invoices.

The taxpayer shall provide the financial year and invoice number and click on Amend Record to search for the relevant invoice.

Importantly, 30th November is the deadline only for making GSTR-1 amendments and claiming pending input tax credit (ITC) for FY 2021-22.

However, the actual due date is dependent on November’s GSTR-1/GSTR-3B filing deadlines (i.e. pertaining to October’s return period).

If a taxpayer misses the relevant deadlines, the GSTR-1/3B cannot be revised. Pending ITC for FY 2021-22, if any, will be forfeited forever.

Well….

In a nutshell, GST input Tax Credit for FY 2021-22 / Credit notes for FY 2021-22 must be recorded in GSTR 3B of October 2022 (to be Filed by 20th November 2022).

Alternatively, it can be filed belatedly with late fee and interest if accounts could not be finalised but on or before 30th Nov 2022 for availing the benefits.