🚨 𝗔𝗱𝘃𝗶𝘀𝗼𝗿𝘆 𝗳𝗼𝗿 𝗙𝗢𝗥𝗠 𝗚𝗦𝗧𝗥-𝟭𝗔 🚨 🗓 Date: July 26, 2024

📢 𝗪𝗵𝗮𝘁'𝘀 𝗡𝗲𝘄? The Government has introduced FORM GSTR-1A through notification No. 12/2024 – Central Tax dated 10.07.2024. This optional facility helps taxpayers amend supply details for the current tax period before filing GSTR-3B.

📋 𝗞𝗲𝘆 𝗙𝗲𝗮𝘁𝘂𝗿𝗲𝘀 𝗼𝗳 𝗙𝗢𝗥𝗠 𝗚𝗦𝗧𝗥-𝟭𝗔: 𝟭) 𝗢𝗽𝘁𝗶𝗼𝗻𝗮𝗹 𝗙𝗮𝗰𝗶𝗹𝗶𝘁𝘆: FORM GSTR-1A can be filed only once for a particular tax period. 𝟮) 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗧𝗮𝘅 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Changes will be reflected in FORM GSTR-3B for the same tax period.

𝟯) 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗜𝗧𝗖 𝗳𝗼𝗿 𝗥𝗲𝗰𝗶𝗽𝗶𝗲𝗻𝘁𝘀: ITC for supplies amended via FORM GSTR-1A will be available in FORM GSTR-2B for the next tax period.

𝟰) 𝗙𝗼𝗿 𝗠𝗼𝗻𝘁𝗵𝗹𝘆 𝗙𝗶𝗹𝗲𝗿𝘀: Available from the due date of filing FORM GSTR-1 or actual filing date until the corresponding FORM GSTR-3B is filed. Net impact of amendments auto-populated in FORM GSTR-3B.

𝟱) 𝗙𝗼𝗿 𝗤𝗥𝗠𝗣 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀: Available quarterly, from the due date of filing FORM GSTR-1 (Quarterly) or actual filing date until the corresponding FORM GSTR-3B is filed.

Amendments made through FORM GSTR-1A (Quarterly) will be auto-populated in FORM GSTR-3B (Quarterly).

separate amendment facility for IFF records for the first two months of the quarter. 𝟲) 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁𝘀 𝗳𝗼𝗿 𝗚𝗦𝗧𝗜𝗡 𝗖𝗵𝗮𝗻𝗴𝗲𝘀: Changes to GSTIN can be rectified through FORM GSTR-1 for the subsequent tax period.

🔗 𝗔𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗙𝗿𝗼𝗺: 𝗔𝘂𝗴𝘂𝘀𝘁 𝟮𝟬𝟮𝟰 💼 Utilize this facility to ensure accurate reporting and compliance! #GSTUpdate #GSTR1A #TaxCompliance