Arjuna (Fictional Character): Krishna, why are taxpayers shivering this winter due to GST?
Krishna (Fictional Character): Arjuna, The cold waves of winter have arrived and along with it cold waves in GST seems to be arrived in form of notices , as now-a-days department is continuously issuing notices to the taxpayers for discrepancies observed in the returns filed by them. These notices are making the taxpayers shiver. The most common notices received by the taxpayers are GSTR-3A and ASMT-10.
Arjuna: Krishna, what is GSTR-3A and what action needs to be taken?
Krishna: Arjuna, Notice- GSTR-3A is received by the taxpayers for non-filing of GST returns in GSTR-1 or GSTR-3B or GSTR-4 or GSTR-8.This is issued under Rule 68 of GST Rules.
The taxpayer should file the particular GST Returns for which the notice is received along with late fees for the delay. The Time limit to respond is 15 days from the date of receiving the notice.
Arjuna: Krishna, what is ASMT-10 and what action needs to be taken?
Krishna: Arjuna, ASMT-10 is scrutiny notice issued u/s 61 of GST Act, intimating discrepancies in GST returns. Following are major 4 discrepancies being conveyed-
The can be many more issues to come and the same should be along with the reasons in ASMT-11.
Arjuna: Krishna, what lesson one should learn from this?
Krishna: Arjuna, the taxpayers should file the returns properly and in time specified. Department is issuing many notices to the taxpayers for discrepancies. Notices for the period 17-18, 18-19 and 19-20 are being issued but one should note that the taxpayers are still filing annual return and GST audit reports are also yet to be uploaded by many, wherein the rectification of discrepancies have been rectified by taxpayers. This is also the reason taxpayers are shivering due to notices as department is not providing shelter home (time) to save themselves from tax cold.