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Description of GST RET-1A in Brief
GST RET-1A is an amendment form to GST RET-1. This new GST Return system is introduced in the GST system to make the compliance procedure simple and less costly for the taxpayer.
This article discusses the following topics:
What is GST RET-1A Form?
In the new GST Return system, the taxpayer can now amend the GST RET-1 form, even after filing using GST RET-1A. At present, the GST Return once filed cannot be amended. However, the taxpayer can amend the details in the subsequent GST return.
Advantages of GST RET-1A
Here is the list of advantages of GST RET-1A:
- The taxpayer can amend the GST RET-1 in the same month or quarter without any delay.
- The taxpayer can save interest on delayed payment as the GST RET-1A can be filed in the same tax period.
- Fewer chances of error as the taxpayer can file up to 2 GST RET-1A during every tax period.
GST RET-1A Format
GST RET-1A Contents
The details that are auto-populated in the GST RET-1 can also be amended in GST RET-1A including the details the taxpayer has entered. Form GST RET-1A has seven sections and they are:
1. GSTIN: This will contain the GSTIN of the taxpayer which will be auto-populated
2. Other Details: This will contain all the basic details about the taxpayer such as the legal name of the registered person, trade name if any, ARN and date of filing. All the fields in this column will get auto-populated based on GSTIN.
3. Amendment in the sale, purchases attracting a reverse charge and tax liability. It shall be noted that to make the required amendment you need to file GST ANX-1A Form.
| No. | Description | Details |
|---|---|---|
| A | Amendment to details of sales | In this part of GST RET-1A form, the following details will get auto-populated from GST ANX-1A |
| i. Supplies to URP (Unregistered Person) | ||
| ii. Exports including tax payment or excluding tax payment | ||
| iii. The taxpayer needs to input the below details: | ||
| iv. Any liability that is related to the previous GST system or any other liability. | ||
| B | Amendments to the details of purchases attracting a reverse charge | The following details will get auto-filled from the GST ANX-1A: |
| i. Purchases attracting a reverse charge | ||
| ii. Import of services | ||
| C | Amendments to the liability adjustment details | In this table the taxpayer needs to mention the following details: |
| Tax liability reduction because of transfer from composition levy to normal levy | ||
| D | Amendments in the details of supplies having no liability | In this table of GST RET-1A form the taxpayer needs to furnish the following details: |
| i. Exempted Supplies | ||
| ii. NIL-rated supplies | ||
| iii. Supplies that are not GST supplies | ||
| iv. Sales attracting reverse charge | ||
| v. SEZ to DTA supplies based on the bill of entry | ||
| E | The total value and total taxable liability | Total of A, B, C and D above. |
4. Amendment in the summary of purchases to claim ITC (Input Tax Credit)
| No. | Description | Details |
|---|---|---|
| A | ITC amendments based on GST ANX-1A | Here are some of the details get auto-filled from GST ANX-1A: |
| i. Purchases attracting reverse charge | ||
| ii. Import of goods and services | ||
| iii. Import of goods from SEZs | ||
| However, the taxpayer needs to type in the following details: | ||
| i. ITC adjustment due to receipt of CDN (Credit Debit Notes) including other adjustments and reclaims | ||
| B | Amendment to the ITC reversal details | In this table of GST RET-1A the taxpayer needs to mention the following details: |
| i. Supplies that are ineligible for ITC | ||
| ii. ITC reversal as per Rule 37,39,42 and 43 | ||
| C | Net ITC available | Difference between A and B |
Note: A taxpayer needs to mention ITC (Input Tax Credit) on capital goods and services separately.
5. Interest and late fees: At the time of filing GST RET-1A the GST system will auto-calculate the below-mentioned liabilities
- The fee to make any amendment over and above the prescribed limit of above-mentioned rules
- Interest on the revision of tax liability
Moreover, it is the responsibility of the taxpayer to self-assess the interest amount for reversal of ITC and any other interest if any.
6. Tax Payment: The process of GST RET-1A is similar to the GST RET-1. Electronic credit ledger input tax credit can be utilized to set-off the liability.
7. Verification: Once every detail in the GST RET-1A form is furnished the taxpayer need to verify this by e-signing the return. The taxpayer cannot file the return unless it is verified.
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