Important Checklist To Consider Before Filing September 2021 GST Returns
As we know that the September 2021 returns are the most crucial returns. Because these are the last returns to rectify the error made in the FY 20-21 returns. September 2021 returns has to be filed before time to make the changes as the last date for rectifying the mistakes or availing the ITC is the Due Date of September’s Month Return (As per Section 16(4) of the CGST Act 2017). These corrections are crucial for the correct closure of that particular financial year. It also forms an important checkpoint during the self-certification process, i.e, during filing the GSTR-9C. Therefore filing September 2021 GST return is very significant and crucial.
- Outward supplies Check whether any difference is there in the outward supplies between the books and the GST Returns for FY 20-21. if the answer is Yes, than rectify the same by adjusting the difference in the September return.
- Avail Pending ITC The entire reconciliation process for the year 2020-21, matching the invoices between GSTR-2A and your purchase book must be completed.
- ITC claim on earlier reversal If GST credit has been reversed during the year on account of payment not made to suppliers within 180 days. The taxpayer can again claim the ITC after payment to the supplier which has been already reversed on non-payment. It is important to check the books of accounts for any such entry on which ITC can be claimed.
- Checking credit for Reverse Charge It is important to cross-check your books of account to confirm if you have paid GST under RCM for proper transactions at the appropriate rate and claimed the ITC for the same in the Financial Year 2020-21.