The Goods and Services Tax Network (GSTN) has issued an advisory regarding the temporary measure for filing GSTR-1 by composition taxpayers.
A new tax rate of 6% IGST or 3% CGST+ 3% SGST has been introduced on certain goods vide Notification No. 02/2022 dated 31st March 2022. Changes are being made on the GST portal to include this rate in GSTR-1.
“As a temporary measure, taxpayers who have to report goods at this rate may do so by reporting the entries in the 5% heading and then manually increasing the system computed tax amount to 6%. This can be done by entring the value in the ‘Taxable value’ column next to 5% tax-rate and then increasing the system coemputed tax-amount to 6% IGST or 3% CGST + 3% SGST in the ‘Amount of Tax’ column under the relevant Table, namely B2B, B2C or Export, as applicable. This will ensure that correct tax amount is reported in GSTR-1. Meanwhile, this rate will be made available on the GST portal shortly,” GSTN said.
“GSTN regrets any inconvenience caused in this regard,” it added.
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