Arjuna (Fictional Character): Krishna, Can the Return under GST be revised?

Krishna (Fictional Character): Arjuna, There is no any concept of revised return under GST. So, under GST, no amendment can be made in the return once it is filed.

Arjuna: Krishna, What the taxpayer should do if any mismatch occurred in sales after filing of return?

Krishna: Arjuna,

1. While preparing and furnishing the details in FORM GSTR-3B, if the outward supplies have been under reported by the taxpayer, then the same maybe added in Outward supplies details of GSTR-3B of the next month. The payment of tax relating to those invoices must be made in the next month along with interest. Also give the correct bill wise details of those invoices in GSTR-1 of the same month and if the GSTR 1 of that month is already filed then report it in the GSTR 1 of next month.

2. If the taxpayer forget to report the details of any tax invoice in GSTR 1 then he can report the same in GSTR 1 of the next month.

Ex. If the taxpayer forgets to add the details of a tax invoice of Rs. 1,00,000 having IGST of Rs. 18,000 in the GSTR 3B of May month then he must report the bill wise details of that bill in GSTR 1 of the May. Also he must add the details of taxable value Rs. 1,00,000 as well as tax amount Rs. 18,000 (along with interest) in the GSTR 3B of June month.

Arjuna: Krishna, What the taxpayer should do if any mismatch occurred in ITC taken relating to purchases made?

Krishna: Arjuna, Where the eligible ITC claimed by the taxpayer in FORM GSTR-3B is less than the ITC eligible as per the details of the purchases, the additional amount of ITC can be taken as credit in the next month. But if the ITC claimed is more than the actual eligible ITC, then it must be reversed in the GSTR 3B of the next month. Also the interest on that extra ITC utilized must be paid.

Ex.  If in the GSTR 3B for the month of April, a taxpayer has taken the credit of Input tax of Rs. 15000 instead of Rs. 20000, then remaining credit of Rs. 5000 (20000-15000) can be claimed in the GSTR 3B of the May month.

Arjuna: Krishna, What to do if the payment wrongly made in the different head?

Krishna: Arjuna, If the taxpayer has made the payment of IGST wrongly under the head of CGST/ SGST, then he needs to pay the tax under the head IGST and he can take the refund of amount wrongly paid under the head CGST/ SGST after filing the FORM RFD-01 and vice versa.

Ex. If ‘A’ wrongly made the payment Rs. 2000 in IGST instead of amount to be paid as Rs. 1000 in CGST and Rs. 1000 in SGST, then he must pay Rs. 1000 respectively under the head CGST and SGST. Also he can claim the refund of Rs. 2000 paid under IGST.

Arjuna: Krishna, what is the concept of Annual return under GST?

Krishna: Arjuna, Annual return is return which is to be filed once in a year by the registered taxpayers under GST. It shall be filed on or before 31st December of the subsequent financial year. There are two types for annual return i.e for Audit case and for non Audit case. For Non audit taxpayers, it is compulsory to furnish the Annual return only. But for taxpayers having Audit under GST, it is compulsory to furnish the annual return along with the audit report and Reconciliation statement. Now how the government will bring provisions for mismatch of purchases and other provisions, only God knows!

Arjuna: Krishna, What lesson the taxpayer should take from this?

Krishna: Arjuna, being first year of GST there are lot of mistakes has been made by the taxpayers and government. Further the dates of income tax return has arrived but taxpayer cannot revise GST return and annual return filing of GST has also not started. There is no any option available under the GST to revise the return. It is a difficult problem for all the taxpayers. It cannot be predicted that when and how the solution for this problem will come. The differences between income tax return, GST return and books of accounts is coming. Therefore situation of “Aasmaan se nikla aur Khajur mai atka! is arose.

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17 responses to “Revised Return under GST? “Aasmaan se nikla aur Khajur mai atka!””

  1. Nagarajau M says:

    Sanjaya Talking Year

    Thank you Vyasa maharshi sir
    very well , and very nice easy to understand to Devotees and Bhakthas

    Super and Continue

  2. RK BHIUWALKA says:

    Sir.

    As far as I know that the correct phrase is “AASMAAN SE GIRA, KHAJOOR MEIN ATKA” and not as state above.

    What do you say?

    RK Bhuwalka

  3. PK Jayan says:

    very good

  4. krishna says:

    Sir,

    There is an under value of turnover of out of state sales under GST aCT in june-2017. HOW TO DO..

  5. krishna says:

    Sir,
    Good Information on Gst revision , This article is useful to all. Pls provide if any notification / Rule for such type of adjustment. Then we are very thankful to u.

  6. Vaibhav says:

    Absolute disaster this guys have made.

  7. rm says:

    GST LAW MAKERS HAVE REALLY FALLEN FROM SKY / AASMAN LIKE HOLY QURAN/BIBLE ETC. HOW LONG THEY CAN HOLD ON TO KHAJUR, TIME WILL TILL – SAY BY ANNUAL RETURN OF GST. OVERALL UNDERSTANDING OF MAJOR BUSINESSES IS GST CAN BE IMPLEMENTED ONLY IF BOOKS OF ACCOUNTS ARE KEPT ON CASH BASIS INSTEAD OF ACCRUAL BASIS. SINCE RETRUN DOES NOT GET FILED WITHOUT PAYMENT, NO SCOPE FOR REVISIONS AND ALTERATIONS. THE GSTIN PORTAL DESIGNED TO PLEASE THE INFORMATION TECHNOLOGY COMPANY AND NOT TO MEET PUBLIC UTILITY. IT IS SURPRISING WHY DISA/CISA AND OTHER SYSTEMS AUDITORS NOT CERTIFIED THE GSTIN PORTAL FOR IMPLEMENTATION WITH SO MANY INHERENT DEFECTS. GST LAW AT RISK OF GETTING SCRAPPED UNLESS DESIGN IS ALTERED TO SUITS BUSINESS COMMUNITY NEEDS / PURPOSE. HOPE THE KRISHNA COMES LIVE
    YADA YADA HI DHARMASYA ……..TADATMNAM SHRUJAMYAHAM

  8. Ganesh Chaudhary says:

    Thanks Umesh Sir for valuable information.

  9. MAHESH AGARWAL says:

    SAARA KA SAARA HE KHAJUR PE HE ATKA HAI NICHE GIR HE NAHI RAHA HE

    PRACTICAL KNOWLEDGE IN ALL GOVT DEPARTMENT IS ZERO

  10. Narayan says:

    Nicely elaborated the need of GST Annual Revision facility for TAx Payers.

    Thank you, sir.

  11. yashpal says:

    Very very thanks sir

  12. asAshok Hegde says:

    ha ha.. Exactly… aasmaan se se nikla…Khajur me atka

  13. R.Ravi says:

    Sir, what is the remedy available for an asessee who has not carried forward the eligible credit lying to his credit as per the last ST3 return filed for the month of June 2017 in his GST Tran 1 return . Is there any way out to claim this amount which is quite substantial for the asessee.

  14. CA Anup Gupta says:

    Rightly Said, This is stated in circular no. 26/26/2017-gst and 7/7/2017-gst. but the problem is that if i had a liablity to F.y. 2017-18 GSTR-3b then shal i pay it in June month 2018 return to offset. Secondly, what is the role of Final return then? Final return also include the reconciliation statement. But till then is it fine that assessee should wait for the late intt. Even if we show the under-reported sale of 2017-18 in GSTR-3b of 18-19, then how will we reconcile it in F.Y. 2017-18 Final return? Please put some light on this

  15. Mohana Rao says:

    Respected Krishna and Arjuna,
    One of my Clint while GST reconciliation time (in June 2018) it came to know that 3 invoices of July 2017 not reported in GSTR-1 and GSTR 3B also. now he want to show and pay the tax with interest. How to show and pay the tax sir? GSTR-1 not accepting previous year date invoices to upload.

  16. mahendra says:

    sir,

    Right term is assman se gire ya gira aur khajur main aatka.

    • harendra khira says:

      BHARAT KO AMERICA BANANE MEI AUR 20-25 SAAL LAGENGE EETNI JALDI YEH INDIAN MIND AMRICAN NAHI BAN SHAKTA NETAJI

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