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GSTN Issues Advisory On Reporting 6% Rate In GSTR-1

Mariya Paliwala
11 May 2022 1:25 PM GMT
GSTN Issues Advisory On Reporting 6% Rate In GSTR-1

The Goods and Service Tax Network (GSTN) has issued an advisory on reporting 6% rate in GSTR-1.

On some commodities, a new 6% IGST or 3% CGST, and 3% SGST tax rate has been implemented. The GST interface is being updated to accommodate a 6% rate in GSTR-1.

As a temporary measure, taxpayers who have to report goods at this rate may do so by reporting the entries in the 5% heading and then manually increasing the system computed tax amount to 6%. This can be done by entering the value in the 'Taxable value' column next to 5% tax-rate and then increasing the system computed tax-amount to 6% IGST or 3% CGST and 3% SGST in the 'Amount of Tax' column under the relevant Table, namely B2B, B2C or Export, as applicable.

This ensures that the right tax amount appears on GSTR-1. Meanwhile, this rate will be published soon on the GST portal.

Dated: 10/05/2022

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