UTILISATION OF INPUT CREDIT FOR BILLS SHOWN IN GSTR 9

[JAYANTL AASHER]

A QUERY. Certain sales bills inadvertently ommited in FY 21-22. Can they be shown in GSTR-9 and shown in the financial statements of the year . whether input credit can be adjusted against the bills?

[Shilpi Jain]

Any invoices missed in GSTR-1 can be shown in GST 9.

payment of tax for that can be done in DRC 03 by using credit also though the form specifically restricts utilization of credit no such restriction found in the law

[Ganeshan Kalyani]

In my view, you can show the missed invoices in GSTR-1 of the current month and also pay the tax thru current month GSTR-3B. You may report the same in GSTR-9 of F.Y, 2021-22.

[Bharat Cholleti]

FY 2021-22, NNo.18/2022 CTR allows to do rectifications up to 30-11-2022,which is clarified by CBIC recently.

[Ravinesh Sinha]

I agree with the view of sri Ganeshan ji as it can be verified easily from GSTR 2 for ITC purpose .

AI Summary

Rectification of omitted invoices: declare in annual reconciliation and discharge tax by return adjustment or rectification form.
Missed outward supply invoices may be declared in the annual reconciliation return (GSTR 9) and rectified either by reporting in current-period outward returns and paying tax through the current GSTR 3B, or by discharging tax via the rectification mechanism (DRC 03); utilisation of input tax credit for such discharge remains subject to normal ITC entitlement, verification in return records, and administrative clarifications.