Gstr 1

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MAKARAND DAMLE (Querist)
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11 April 2019 Some Invoices of F Y 17-18 were uploaded in F Y 18-19 on GST Portal

Now if I correct the error by amending invoices with F Y 17-18 dates

How will the liability towards changed invoices be settled ?

GST on these invoices is paid in F Y 18-19

MAKARAND DAMLE

MAKARAND DAMLE (Querist)
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12 April 2019 Also would like to know the rate of interest and the month from which liability will start ?

Awaiting expert answer please

Asha Kanta Sharma online

Asha Kanta Sharma online

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12 July 2024 When correcting invoices that were mistakenly uploaded in FY 18-19 but belong to FY 17-18 on the GST portal, here’s how the liability and interest implications typically work:

### Liability Settlement:

1. **Amending Invoices**: You should amend the invoices on the GST portal to reflect the correct FY 17-18 dates. This is crucial to ensure that your GST filings align correctly with the actual financial year of the transactions.

2. **Impact on GST Liability**:
- Since GST on these invoices was paid in FY 18-19, the liability was discharged for FY 18-19.
- Amending the invoices to reflect FY 17-18 will not change the fact that the tax was already paid in FY 18-19. However, the correct reporting in FY 17-18 is necessary for compliance purposes.

### Interest Calculation:

- **Interest**: According to GST rules, interest is applicable on any tax amount that remains unpaid or paid late. In this scenario:
- If there was an underpayment of GST liability for FY 17-18 due to the invoices being reported and paid in FY 18-19, interest may apply.
- The interest rate is generally 18% per annum, calculated on a daily basis from the due date of payment till the actual date of payment.

### Month from which Liability will Start:

- The liability for GST on these invoices starts from the month in FY 17-18 when the actual supply of goods or services took place. This is the period that should be reflected in the amended invoices.

### Steps to Resolve:

- **Amend Invoices**: Correct the invoices on the GST portal to reflect the FY 17-18 dates.
- **Reconcile Returns**: Ensure that GSTR-1 and GSTR-3B for FY 17-18 are reconciled to include these amended invoices.
- **Pay Additional Tax**: If there is any additional tax liability identified due to the correction, pay it promptly to avoid further interest accrual.

### Conclusion:

Correcting the invoices to reflect the correct FY 17-18 dates is essential for GST compliance. While the GST liability for these invoices was already paid in FY 18-19, interest may apply if there was any underpayment of tax for FY 17-18. Ensure all amendments are accurately reflected on the GST portal and follow up with any necessary payments and reconciliations to maintain compliance with GST regulations.

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