NEGATIVE FIGURE IN GSTR1

[KERAGODEGOPALARAO ANANTHARAO]

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?

[Ganeshan Kalyani]

In my view, B2C accepts negative figure. So you can try and amend with correct amount.

[PAWAN KUMAR]

Dear sir,

As per my view you need to report the credit note in GSTR-1 during the month in which these were issued. If you missed to report, you may report in next tax period also. Accordingly adjust your GSTR-3B return of the same tax period. By this way you may adjust.

AI Summary

Negative figure in GSTR-1: report credit notes in the month issued or next period and adjust GSTR-3B accordingly.
Negative figures in GSTR-1 resulting from credit notes for B2C supplies can be corrected by amending the GSTR-1. Credit notes should be reported in the month issued or, if missed, in the next tax period, and the corresponding GSTR-3B should be adjusted in the same tax period to reconcile returns and avoid portal mismatches.