Issues and Concerns
(i) The GST Council / GSTN is effecting a number of modifications in the modules to the returns and more changes to the same are expected to be made in the near future. In this regard, as a recipient of supply one would have to be cautious since uploading of the supply details is by his suppliers by way of filing of GSTR 1 (for the period beginning July 2017 till date new system of return is made available). The Recipient will only download and verify such details in Form GSTR 2A. The Recipient should ensure that, all his inward supplies on which he has availed input tax credit has been uploaded by his supplier and the details of the same is available in Form GSTR 2A. By this , recipient of supply can avoid interest liability on availment of excess credit (in the eyes of exchequer) which may also effect his Goods and Service Tax Compliance rating in long run.
(ii) Further, recipient of credit shall be aware of the fact that, input tax credit in relation to supply received in a particular financial year say 2018-19 (including transactions of credit / debit notes as the case may be), if not availed earlier, is to be availed on or before the due date prescribed for filing of return for the month of September 2019 or date of filing of annual return in Form GSTR 9, whichever is earlier. On this aspect law would be sacrosanct and may not allow additional time which will result in losing out on input tax credit