Discrepancy In The Claim Of Input Tax Credit in Form GST MIS-1 and GST MIS-2

Any discrepancy in the claim of input tax credit in respect of any tax period, as per above shall be made available

•          to the registered person making such claim electronically in FORM GST MIS-1 and

•          to the supplier electronically in Form GST MIS-2

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 in GST MIS-1 may make suitable rectifications in the statement of outward supplies to be furnished for the month in which the discrepancy is made available.

The recipient to whom any discrepancy is made available in GST MIS-2 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 in para 10.59 or 10.60 above 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 1.: 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.

Explanation 2.: 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.

The recipient shall be eligible to reduce from his output tax liability, the amount, if the supplier declares the details of the invoice or debit note in his valid return within the stipulated time, which had not been declared by mistake or omission as specified in sub-section (9) of section 39. In such cases, the ITC which had been transferred to liability register shall be credited to the corresponding heads of ITC ledger and the interest paid by the recipient shall be refunded by crediting the amount in the corresponding head of his Electronic Cash Ledger.

Process of matching of ITC has been summarised as follows:

Related Topics ....
Who Needs To File GST Return ?
Types And Periodicity Of GST Return For Different Categories Of Taxpayers
Outward Supply Statement (GSTR 1/GSTR 1A) [Section 37 of CGST Act]
Inward Supply Statement (GSTR-2A/GSTR-2) [Section 38 of CGST/ UTGST]
Furnishing of Return (GSTR-3) [Section 39 of CGST Act]
Information in the Monthly GSTR-3 Return Form
Quarterly GST Return For Taxpayers Under Composition Scheme-GSTR 4
Non-Resident Foreign Taxpayers (GSTR-5) under GST Act. 2017
Input Service Distributor (ISD) Return (GSTR 6) under GST Act. 2017
Tax Deduction at Source (TDS) - GSTR-7 under Section 51 of CGST Act
Tax Collection at Source (TCS) GSTR-8 under Section 52 of CGST Act
Mismatch, Reversal And Re-Claim Of ITC And Reduction In Claim Of Output Tax Liability [ Secs. 42 And 43 Of CGST/UTGST]
Discrepancy In The Claim Of Input Tax Credit in Form GST MIS-1 and GST MIS-2
Discrepancy In The Claim Of Reduction In Output Tax Liability in Form GST MIS-3
General Note On Contents Of GSTR-1 , GSTR-2 and GSTR-3
Annual Return in FORM GSTR-9 And Audit Report in FORM GSTR-9B [Section 44 Of CGST/UTGST]
Levy Of Late Fee under GST [Section 46 OF CGST/UTGST]
INVALID RETURN in case GSTR-3 is Filed without Payment under GST Portal
IT Enablement For Filing Of GST Returns
Payment Of Taxes And Submission Of GST Return
ACKNOWLEDGEMENT of e-Return under GST
Eligibility Conditions, Duties And The Obligations Of Goods Services Tax (GST) Practitioners
Rectification Of GST Return
Processing Of GST Returns By the GST Portal
 
 
 
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