In spite of complete digitization, the possibility of human errors cannot be completely wiped off. However, interestingly, there are no provisions relating to the filing of revised returns under Goods and Services Tax (GST) law. In the present article, we will look into the manner in which the adjustments of GST omission/ incorrect particulars can be done under GST; the time limit prescribed thereof along with recent amendments in the time limit; trade confusion prevalent and clarification thereof.
Adjustment of GST : Omission/ incorrect particulars
As the facility to rectify the GST returns is not available, the manner to carry out the adjustments of any omission/ incorrect particulars is provided under section 39(9)/ section 37(3)/ section 52(6) of the Central Goods and Services Tax Act, 2017. The said provisions are summarized in the table below
Particulars | Details |
|---|---|
Manner to carry out the adjustments of any omission/ incorrect particulars | As and when the registered person discovers any omission/ incorrect particulars after furnishing respective GST returns. Then, such omission/ incorrect particulars can be adjusted while filing subsequent GST returns. |
Circumstances when such adjustments cannot be undertaken | As and when the registered person discovers any omission/ incorrect particulars as a result of any GST audit or scrutiny or enforcement activity by the tax authorities or inspection. |
It is important to note that the registered person cannot carry out such omission/ incorrect particulars after the prescribed time limit. The said prescribed time limit is explained hereunder.
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Adjustment of GST : Time limit to carry out the adjustments
The provisions covering the time limit for carrying out the adjustments of omission/ incorrect particulars along with the type of adjustment are tabulated hereunder
Provisions | Type of adjustment |
|---|---|
Section 16(4) of the Central Goods and Services Tax Act, 2017 | Adjustments relating to availment of input tax credit in respect of any invoice/ debit note. |
First proviso to section 37(3) of the Central Goods and Services Tax Act, 2017 | Adjustments relating to details of outward supplies furnished via return in Form GSTR-1. |
First proviso to section 39(9) of the Central Goods and Services Tax Act, 2017 | Adjustments relating to details furnished via return in Form GSTR-3B. |
First proviso to section 52(6) of the Central Goods and Services Tax Act, 2017 | Adjustments relating to details furnished via statement furnished by a TCS in GST. |
Recently, vide Finance Act, 2022, the time limit prescribed under all the above provisions are amended. Accordingly, the earlier time limit and the amended time limit of all the provisions are summarized hereunder
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Provisions | Earlier time limit | Amended time limit |
|---|---|---|
Section 16(4) of the Central Goods and Services Tax Act, 2017 | Earlier of the following –
| Earlier of the following –
|
First proviso to section 37(3) of the Central Goods and Services Tax Act, 2017 | Earlier of the following –
| Earlier of the following –
|
First proviso to section 39(9) of the Central Goods and Services Tax Act, 2017 | Earlier of the following –
| Earlier of the following –
|
First proviso to section 52(6) of the Central Goods and Services Tax Act, 2017 | Earlier of the following –
| Earlier of the following –
|
It is important to note that all the above amendments were introduced vide the Finance Act, 2022. However, the said amendments are made effective only from 1st October 2022 vide notification no. 18/2022- Central Tax dated 28th September 2022.