Dear sirs,
The B2C outward supples declared in GSTR-1 for the month of March 2022 was Rs. 4.00,30,000/-. There was no supply for Rs. 82,60,000/- due to un avoidable reasons. We have filed income tax return for corrected turnover. Otherwise there will be mismatch between income tax and GST portals. Credit note is issued for the same.We are amending the GSTR-1, resulting in Negative figure in GSTR-1. Is it allowable if not what is remedy?
Can we file GSTR-3B with revised figures?
Guidance on Amending GSTR-1 for Negative Figures and Adjusting GSTR-3B with Credit Note for March 2022 A user raised a query regarding a negative figure in their GSTR-1 form after declaring B2C supplies for March 2022, which included an incorrect amount of Rs. 82,60,000 due to unavoidable reasons. A credit note was issued, and they sought advice on amending GSTR-1 and filing GSTR-3B with revised figures. One response suggested that GSTR-1 can accept negative figures, allowing for amendment. Another advised reporting the credit note in the month it was issued or in the next tax period, and adjusting the GSTR-3B return accordingly. (AI Summary)
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