New Delhi, Jan 3 (KNN) The Goods and Services Tax (GST) policy wing in a recent notification that allowed rectifying the information on filing, issued a set of guidelines stating the common errors incurred by the businesses and steps to resolve them.

The tax office informed that all persons registered are required to file in their form GSTR-3B on a monthly basis as notified earlier.

Registered persons opting for Composition scheme are required to file their returns quarterly in FORM GSTR. The due date for filing of FORM GSTR – 4 for the quarter  ending September 2017 has been extended  to 24^th December 2017 vide Notification No.  59/2017

For the remaining quarters, the last date for filing of FORM GSTR-4 is within eighteen days after the end of such quarter, the tax office notified.

Informing of the common errors, GST wing said that at stage 1 of confirmed submission, there have been cases where liability was under reported, which can now be corrected.

Also another common error noted by the tax office is that over reporting of liability or wrongly reporting the same. Similar discrepancies were also noted with regard to the claiming of input tax credit.

Also In many cases the taxpayers updated the cash ledger wrongly, the notification informed.

The tax office guidleines on the same can be accessed using the following link:

http://www.cbec.gov.in/htdocs-cbec/gst/circularno-26-cgst.pdf

(KNN/ DA)