Rectification of mistakes made in 2017-18 in September 2018 The return ( GSTR-3B & GSTR-1) for the month of September 2018 is the last return which provides the last opportunity to the tax payers to rectify mistakes/make good the omissions in the returns filed during 2017-18. The rectification of errors which lead to liability for the taxpayer, can be made good while filing annual return (with audited financial statements and reconciliation statement in prescribed forms where applicable). The errors which result in reduction of tax liability or increase in ITC, cannot be rectified. Therefore all the tax payers have to conduct a review of all GST related accounts and the ledgers. An attempt is made to highlight the important aspects that will have to be looked into by the taxpayers in this article. Supply related errors ●
Non availment of exemption benefit available for a supply because of lack of awareness or incorrect classification.
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Incorrect rate adopted leading to excess payment of taxes.
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Wrong application of concept of composite, non-composite or mixed supply.
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Determination of wrong place of supply by the vendor resulting in wrong credit availment.
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Non-availment of reduction of tax paid on discounts passed on at the yearend as per the understanding between the recipient and the supplier.
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Reconciliation of turnover has to be done for all types of supplies i.e. taxable supplies, exempt supplies, non GST supplies, RCM, zero rated supplies etc. so that turnover limit is not increased wrongly. 1