GSTN Advisory on Reporting 6% rate in GSTR-1

Certain items are now subject to a new tax rate of 6% IGST or 3% CGST+ 3% SGST, as announced in Notification No. 02/2022 dated March 31, 2022. The GST portal is being updated to accommodate this rate in GSTR-1. Taxpayers who must report items at this rate may do so temporarily by reporting the entries under the 5% category and then manually increasing the system computed tax amount to 6%. This is accomplished by entering the value in the ‘Taxable value’ column next to the 5% tax rate, and then increasing the system computed tax amount to 6% IGST or 3% CGST + 3% SGST in the ‘Amount of Tax’ column under the relevant Table, namely B2B, B2C, or Export, as applicable. As a result, the right tax amount will be declared in GSTR-1. Meanwhile, the GST portal will soon have this rate available.

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