Sep 10, 2018
September last month to fix GST filing errors, claim credit for FY18
September is crucial for taxpayers under the new goods and services tax (GST) regime, as it will be the final month for taxpayers to claim credit for invoices issued in 2017-18 as well as to rectify errors in their tax return forms for the year. GST was implemented on 1 July 2017, and with taxpayers still getting used to the new return filing system under this indirect tax regime, there have been instances of errors including incorrect or inflated claims of credit or in some cases under-reporting of tax credit claims. There are also instances of omissions in reporting of transactions. All these can be corrected in the September tax return form.