GSTR-1A can be amended before filing the notified sales return form, errors will be reduced
Relief to traders: GST Council had last month recommended a new optional facility to taxpayers to amend the details in the GSTR-1 form for the tax period and/or declare additional details through the GSTR-1A form. However, GSTR-1A will have to be filed before filing a return in GSTR-3B for the said tax period.
The Finance Ministry has issued a GSTR-1A form that will benefit traders. This allows taxpayers to make changes on the outward supply or sales return form.
Last month, the GST Council proposed a new optional feature for taxpayers to alter the details in the GSTR-1 form for the tax period and/or submit additional details using the GSTR-1A form. However, GSTR-1A must be filed prior to filing a GSTR-3B return for the relevant tax period. Taxpayers with an annual revenue of up to Rs 5 crore can file the GSTR-1 form by the 13th day of the quarter.
Rajat Mohan, executive director, of business consultancy firm Moore Singhi, said, "The Central Board of Indirect Taxes and Customs has significantly enhanced the GST compliance framework with the optional facility of Form GSTR-1A. By providing a timely correction facility, Form GSTR-1A ensures that the correct tax liability is auto-populated in Form GSTR-3B. This will also reduce errors."
