About a year ago, Form 26AS was substituted with Annual Information Statement wherein it was told that it will now include GST turnover details from GSTR 3B filed by assessee, SFT details and some other details.
Further, for GST registered person it is also required for him to mention GST turnover in his Income tax return.
There are two values related to GST which is being imported in the Form 26AS or Annual information statement from GSTR 3B filed by assessee i.e. taxable turnover and total turnover.
Since, this information is reflected in Form 26AS, the same information is available with the Income tax department.
However, from the past few days people are facing issues with the GST turnover which is getting imported in Form 26AS.
The issues being faced are as: Sometimes the taxable turnover of some months is not getting reflected in Form 26AS, sometimes incorrect figure is getting reflected or sometimes the entire GST table is showing “Nil” figure.
However, the assessee can see the details being filled properly in his GST return.
Hence, it can be said that there is an error on part of Income tax department when they are importing details in Form 26AS from GST returns of assessee and this is an another error in the new e-filing website.
Although this will not have any tax implication, however it is advisable that the taxpayer should mention the correct figure in his/ her income tax return when he/ she mentions GST turnover as sooner or later this error will be fixed and actual turnover will get imported. Also, it is recommended to also save Form 26AS which was downloaded at the time of filing as Form 26AS is a dynamic statement and keeps updating regularly.
Disclaimer: The views presented in the above article are personal views of our team and has no legal binding. For any legal opinion consult a tax professional.
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