Transactions relating to the tax period April 2020 to March 2021 may be rectified while filing returns for September 2021 (Due date for filing GSTR 3B for September 2021 is 20th / 22nd / 24th October 2021). No additional claim of missing ITC may be made available post filing of September 21 returns. Taxpayer may lose the right to claim any eligible ITC which appears in books of accounts and not claimed till filing of September 2021 GSTR 3B return.
Below is the reconciliation which need to do by the taxpayer before filing Sept GST-1 on or before (11th Oct and 13th Oct 2021) and GST3B on or before (20th Oct/ 22nd Oct/24th Oct 2021).
Action to be taken in Outward Supplies
As per first proviso of Section 37(3) of the CGST act no rectification of error or omission in respect of the detail furnished under sub section 1 shall be allowed after furnishing the return under section 39 for the month of September following the end of the financial year to which such detail pertain or furnishing of the relevant annual return whichever is earlier.
Correspondingly supplier/clients may also be informed about the time limit if any transaction need to be amended in the GST-1 on the basis of reconciliation done for F.Y 2020-21, the same can be done while filing the return GST-1 of Sept 2021, no amendment can be filed for the relevant period is allowed after the due date of GST-1 of Sept 2021.
Below is the area which need to be identified and report in the respective GST-1 and GST3B with applicable interest rate (if any)