You are here
According to Rule 71 - Communication and rectification of discrepancy in claim of input tax credit and reversal of claim of input tax credit of Central Goods and Service Tax Act, 2017 as passed by Lok Sabha :
-
Any discrepancy in the claim of input tax credit in respect of any tax period, specified in sub-section (3) of section 42 and the details of output tax liable to be added under sub-section (5) of the said section on account of continuation of such discrepancy, shall be made available to the recipient making such claim electronically in
FORM GST MIS-1
and to the supplier electronically in
FORM GST MIS-2
through the common portal on or before the last date of the month in which the matching has been carried out.
-
A supplier to whom any discrepancy is made available under sub-rule (1) may make suitable rectifications in the statement of outward supplies to be furnished for the month in which the discrepancy is made available.
-
A recipient to whom any discrepancy is made available under sub-rule (1) may make suitable rectifications in the statement of inward supplies to be furnished for the month in which the discrepancy is made available
-
Where the discrepancy is not rectified under sub-rule (2) or sub-rule (3), an amount to the extent of discrepancy shall be added to the output tax liability of the recipient in his return to be furnished in
FORM GSTR-3
for the month succeeding the month in which the discrepancy is made available .
Explanation.- For the purposes of this rule, it is hereby declared that -- Rectification by a supplier means adding or correcting the details of an outward supply in his valid return so as to match the details of corresponding inward supply declared by the recipient;
-
Rectification by the recipient means deleting or correcting the details of an inward supply so as to match the details of corresponding outward supply declared by the supplier
