September is an important month under GST law from the perspective of several activities of preceding FY that need to be completed by due date of filing of September return. Through this update, we are highlighting various key action points required to be undertaken till filing returns of September 2022 for FY 2021-22:

• Issuance of credit notes for sales return or price revision in relation to invoices issued in FY 2021-22. Notably, issuance of debit notes has now been delinked from date of invoice.

• Availment of ITC pertaining to FY 2021-22.

• Reconcile GSTR-2B with GSTR-3B for entire FY 2021-22. Necessary adjustments / corrections can be made in GSTR-3B of September 2022 to ensure overall compliance of Section 16(2)(aa) of the CGST Act read with Rule 36(4) of the CGST Rules.

• True-up common ITC under Rule 42 and 43 of the CGST Rules for FY 2021-22 in GSTR-3B of September 2022.

• Reconcile GSTR-1 with GSTR-3B and books of accounts for FY 2021-22. Necessary adjustments / corrections can be made in GST returns of September 2022.

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