Upcoming Changes in Form GSTR-3B – GSTN advisory

GSTN has published Advisory on upcoming changes in Table 4 of Form GSTR-3B

• The government announced a few amendments to Table 4 of Form GSTR-3B in Notification No. 14/2022 – Central Tax, dated July 5, 2022 under the CGST Rules, requiring taxpayers to disclose information on ITC correctly claimed, reversed, and declared ineligible ITC.
• The GST Portal is currently implementing the notified modifications in Table 4 of GSTR-3B, and they will be available soon. Taxpayers are urged to continue reporting their ITC availment, reversal of ITC, and ineligible ITC in accordance with current practise until these changes are incorporated on the GST Portal.
• Once these changes are available on the GST Portal, the taxpayers will be adequately informed.
• This notification has amended various rules and inserted new rules. The detailed discussion is enclosed as Annexure – II
• You can accessed GSTN Advisory and may view the detailed Notification by clicking here: https://www.gst.gov.in/newsandupdates/read/550

Summary Note on Reporting of Input Tax Credit in updated GSTR 3B

Important clarification contextual change in the way in which values were getting reported.

• CBIC notified amendment in GSTR-3B Table 4 are being enforce on the Online GST Portal & same will be display Till above changes are applicable on the GST Online Portal, GST taxpayers are suggested to continue to report their Input tax Credit availment, ineligible Input tax Credit & reversal of Input tax Credit as per the current practice.
• GST taxpayers will be duly updated once said amendment are properly made in GST online Portal.

Govt of India to look at further tightening on GST tax leakages.

CBIC intelligence & system-generated alerts a new tool to curb tax leakages

New Functionalities made available for GST Taxpayers on GST Portal in December, 2022 w.r.t. Returns

Popular Articles:

• Registration of GST under Goods and Service Act, 2017
• SOP for verification of Taxpayer who granted deemed registration
• GST Registration facility available for IRPs: GSTN Guidance
• When compulsory GST registration required?
• Overview of gst registration
• Complete knowledge about GST Registration