GSTN issues Advisory on new Form GSTR 1A

The GSTN ( Goods and Services Tax Network ) has issued an advisory on new GST Form GSTR 1A, which is dedicatedly to amending the details provided in the GSTR 1 on 26th July 2024. The Government of India, through notification No. 12/2024 – Central Tax dated 10.07.2024, has introduced FORM GSTR-1A, an optional form and facility for taxpayers.

This new form allows taxpayers to add or amend details of supplies for the current tax period that were either missed or incorrectly reported in FORM GSTR-1 before filing the GSTR-3B return for that period.

Starting August 2024, taxpayers can utilise Form GSTR-1A to amend details provided in FORM GSTR-1 for the month of July 2024.

The key features of FORM GSTR-1A include:

1. FORM GSTR-1A is an optional facility that can only be filed once per tax period.
2. Changes made through FORM GSTR-1A will reflect in the taxpayer’s liability in FORM GSTR-3B for the same tax period.
3. For recipients, the Input Tax Credit (ITC) for supplies declared or amended through FORM GSTR-1A will be available in FORM GSTR-2B generated for the next tax period.

4. For taxpayers filing FORM GSTR-1 on a monthly basis:

1. FORM GSTR-1A will be available from the due date or actual filing date of FORM GSTR-1, whichever is later, until the actual filing of FORM GSTR-3B for the same period. Taxpayers cannot file FORM GSTR-1 for a month until FORM GSTR-3B for the previous month is filed.

• The net impact of amendments through FORM GSTR-1A and declarations in FORM GSTR-1 will be auto-populated in FORM GSTR-3B for the same tax period.

5. For the QRMP taxpayers, who files FORM GSTR-1 on Quarterly basis:

1. FORM GSTR-1A will be available quarterly after the actual or due date of filing FORM GSTR-1, whichever is later, until the filing of FORM GSTR-3B for the same period.

• Supplies reported in the current period’s FORM GSTR-1, including those declared in IFF for the first and second months of a quarter, can be amended through FORM GSTR-1A.

• The net impact of declarations in FORM GSTR-1A (Quarterly) and FORM GSTR-1 (Quarterly) or IFF will be auto-populated in FORM GSTR-3B (Quarterly) for the same period.

• No separate amendment facility will be available for records furnished through IFF during the first and second months of a quarter.

6. Changes to the GSTIN of a recipient for a supply reported in FORM GSTR-1 of a tax period can only be rectified in FORM GSTR-1 for the subsequent tax period.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates