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It was previously clarified in Circular No. 7/7/2017- GST dated 1st September 2017 that errors committed while filling Form GSTR-3B may be rectified while filling Form GSTR-1 and Form GSTR- 2 of the same month. Further, the circular had also clarified that the system will automatically reconcile the data provided in Form GSTR-3B with Form GSTR-1 and Form GSTR-2, and the variations if any will either be offset against output tax liability of the subsequent month of the registered person.

The success of GST would largely depend on how the resistance to change which is inbuilt in humans is dissipated. The ethical needs and ground realities of each of the stakeholders needs to be considered when sharing the information on GST. The knowledge level and possible concerns of that sector should be met in the awareness/ training.1   

The stakeholders in GST regime are obviously the tax compliant assessees, errant (not compliant assessees - registered or not), GST officers at...

Advantages and Dis-advantages of GST

Implementation of Goods and Services Tax (GST) was one of the long awaited fiscal reform and due to various reasons it was only hanging around and could not circumvent the obstacles for substantially long period of time so much so that people started saying that the reform may not see a light of the day. However, all that is history now and we are lucky to witness the eventual implementation of this tax reform and today we stand at a timeline of 200...