Common Mistakes to Avoid While Filing GSTR-1 and GSTR-3B, GST Course

Common Mistakes to Avoid While Filing GSTR-1 and GSTR-3B

Filing GSTR-1 and GSTR-3B accurately is crucial for maintaining GST compliance and avoiding penalties. Here are the most frequent errors and practical tips to prevent them:

Common Mistakes to Avoid While Filing GSTR-1 and GSTR-3B,  Get Practical GST Course in Delhi, 110006, by SLA Consultants India, New Delhi

1. Inconsistent Figures Between GSTR-1 and GSTR-3B
Many businesses report correct invoice-level data in GSTR-1 but enter different sales figures in GSTR-3B. This mismatch can delay input tax credit (ITC) claims and may trigger GST audits or scrutiny, sometimes resulting in mismatch notices from authorities.

2. Incorrect GSTIN or Invoice Details
Entering the wrong GSTIN or invoice details in GSTR-1 is a common mistake. This can prevent the recipient from claiming ITC, as the invoice details won’t appear in their GSTR-2A. Always double-check GSTIN and invoice particulars before submission.

3. Overclaiming Input Tax Credit (ITC)
Claiming ITC in GSTR-3B without verifying if the supplier has filed their GSTR-1 can lead to mismatched credits and possible reversals. Always reconcile ITC claims with GSTR-2B and ensure only eligible credits are claimed.

4. Missing Amendments and Corrections
Errors in previous returns should be corrected in future filings by amending GSTR-1 or GSTR-3B as appropriate. Simply adjusting values in GSTR-3B without updating GSTR-1 creates compliance gaps.

5. Selecting Wrong Filing Frequency
Choosing the incorrect return frequency (monthly or quarterly) can lock you into an unsuitable schedule for the entire financial year. Read the options carefully and select the correct frequency based on your turnover.

6. Misclassification of Supplies
Sometimes, interstate sales (IGST) are incorrectly reported as intrastate (CGST/SGST) and vice versa, leading to tax calculation errors. Ensure the correct classification of all sales transactions.

7. Delay or Missed Deadlines
Late filing of either return attracts penalties and late fees, and can impact your GST compliance rating. Set reminders and reconcile data before the due dates.

8. Non-reporting of Reverse Charge Liabilities
Failing to report liabilities under reverse charge can result in underpayment of tax and future penalties. Always check if any transactions fall under reverse charge and report them accurately.

9. Not Adjusting Previous Period Corrections
If corrections from previous periods are not adjusted in the current filing, it can lead to cumulative mismatches and compliance issues.

10. Incorrect Turnover Reporting
Reporting gross turnover instead of taxable turnover, or vice versa, can cause discrepancies and affect tax calculations.

Get Practical GST Course in Delhi, 110006 by SLA Consultants India

For professionals and business owners seeking hands-on expertise in GST compliance, SLA Consultants India, New Delhi offers a comprehensive Practical GST Certification Course in Delhi. The course covers:

• Detailed modules on GSTR-1, GSTR-3B, and reconciliation techniques.

• Real-life scenarios and practical tips for error-free GST return filing.

• Guidance on handling discrepancies, claiming proper ITC, and addressing mismatches.

• Periodic reconciliation strategies to ensure accurate tax filings.

• Updates on the latest GST rules and compliance requirements.

This course is designed to equip you with the skills needed to file GST returns confidently, avoid common mistakes, and stay compliant with current tax regulations. SLA Consultants India’s training is well-suited for those in or near Delhi (including PIN 110006), and is especially valuable if you are planning a career in accounting, finance, or entrepreneurship.

For more details and enrollment, visit SLA Consultants India’s official website.