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May 11, 2022

6% slab on certain goods introduced on the GST portal to include in GSTR-1 by GSTN

by CA Shivam Jaiswal in GST Circular Notification

6% slab on certain goods introduced on the GST portal to include in GSTR-1 by GSTN

The Goods and Services Tax Network (“GSTN”) has issued an Update dated May 10, 2022 w.r.t. introduction of a new tax rate of 6% on certain goods, on the GST Portal to be included in GSTR-1 as per Notification No. 02/2022 dated March 31, 2022.

A new tax rate of 6% IGST or 3% CGST+ 3% SGST has been introduced on certain goods vide Notification No. 02/2022 dated March 31, 2022. Changes are being made on the GST portal to include this 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 + 3% SGST in the ‘Amount of Tax’ column under the relevant Table, namely B2B, B2C or Export, as applicable. This will ensure that correct tax amount is reported in GSTR-1. Meanwhile, this rate will be made available on the GST portal shortly.

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