GOOD NEWS: B2B CLASSIFIED AS B2C CAN BE AMENDED
September 2018 is the last month to avail Input tax credit of Financial year 2017-18. There are many instances where many B2B transactions were classified as B2C, also there was no way to amend the same. Now we can amend wrong classification of B2 as B2C.
Procedure to amend B2C as B2B is as follow:
- After Login in to GST portal, select GSTR 1 for the month of September
- Click on Table 10 – Amendment of B2C (Other)
- Select the month which is to be amended.
- After clicking on “Amend details”, screen below will be displayed. You have to reduce the taxable value and tax to the extent of increasing B2B.
- Now you need to add invoice details with receivers GST number in Table 1 – B2B in addition to current months invoices.