One more GST Return: GST Council might launch new form GSTR-1A:

One more GST Return: GST Council might launch new form GSTR-1A As per news sources, the GST Council might launch one more GST return Form, GSTR-1A. The GST Council's 53rd meeting has been scheduled for June 22, 2024, in New Delhi, as the new government assumes charge.

Same Period Amendment

The Form GSTR-1A will provide, the feature of flexibility in amendment. GSTR-1A will allow taxpayers to amend or add records within the same month/ same period after filing GSTR-1 and before filing GSTR-3B. Currently, taxpayers cannot modify GSTR-1 in the same period after it has been filed. Any amendments or missed records must be reported in the GSTR-1 of the next return period. The amended liability will be automatically populated in GSTR-3B, enabling the correct liability discharge. Amendments or missed records can be reported in GSTR-1A before filing GSTR-3B, which also promotes, efficient reporting.