TMI BlogSubmission of correct return under GST.X X X X Extracts X X X X X X X X Extracts X X X X ..... T Tax collected (tax on non-subsumed items and old recovery of tax arrears), tax collection under non-subsumed tax laws, State Tax under GST (SGST) and fund transfer from Centre of Integrated Tax (for short IGST) on account of settlement and apportionment. 1 .2. The fund transfer from centre (IGST) on account of settlement and apportionment is based on returns filed by the tax payers. Incorrect disclosure of Input Tax Credit (for short ITC) of IGST on account of interstate inward supplies or import supplies of goods or services may result in short settlement of amount of fund transfer to State. 1.3. Recently, one such case has been noticed, wherein the tax payer of Maharashtra State has not disclosed the ineligible ITC on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lable to tax payers, the same is still continued and may continue till the new return system is in place. Hence, it necessitates the availability of correct data / information of GSTR-3B with GSTN for proper settlement and apportionment of fund transfer. 3. Instructions for tax payers: In view of the aforesaid facts, it is essential to issue guidelines for tax payers to report ITC related fields properly and correctly while filing their periodic / annual return(s), which are as follows: 3.1. Monthly GSTR-3B: a. The provisions related to GSTR-2 are suspended for the time being. Therefore, the reversal of ITC under rule 42 43 is to be reported in Table 4 of GSTR-3B . Tax payers are requi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The tax payers are hereby directed to fill in the information in those fields correctly and report the place of supply in it. 3.3. Correction in returns filed earlier: All such tax payers who have not furnished details of ineligible ITC or furnished partial details of ineligible ITC or not reported reversal of ITC fully or partially are hereby required to correct the mistakes in following manner- a. Those tax payers who have committed errors of wrongly reporting or nor reporting ineligible ITC as well as reversal of ITC in the returns filed for the financial period 2017-18 shall have to report it in the annual return to be filed in form GSTR-9. b. The tax payers who have committed errors of wrongly r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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