GSTN Advisory on IFF or GSTR-1 New 14 & 15 tables
GSTN Advisory on IFF or GSTR-1 New 14 & 15 tables
The GSTN Advisory on Invoice Furnishing Facility or GSTR-1 : Update on introduction of New 14 & 15 tables
This GST Advisory provides clarification on disclosure in cases such as:
✅ Where Supplier is GST Registered, but recipient is not
✅ Where Supplier & recipient are GST registered
✅ Where both supplier & recipient are unregistered person
✅ Where recipient is GST registered Taxpayer, but GST supplier is not
Moreover that, GST values shown by E-commerce operators in GSTR -1 Table 15 would be auto-populated in Table 3.1.1(i) of GSTR-3B. This change in due to GSTN Advisory on Invoice Furnishing Facility or GSTR-1ensures reconciliation between GSTR-1 & GSTR -3B.
New Advisory on introduction of GSTR-1 in Tables 14 & 15 by GSTN
Details about the New Advisory on introduction of GSTR-1 in Tables 14 & 15 by GSTN on Invoice Furnishing Facility or GSTR-1
- According to the GSTN Notification No. 26/2022 –2 New tables Table 14 & 15 were added in GSTR-1.
- To capture details of the GST supplies made via e-commerce operators on which e-commerce operators are liable to collect tax under section 52 of the Act or liable to pay tax under section 9(5).
- These GSTR-1 tables have now been made live on GST common portal. These 2 New Tables will be available in GSTR-1/ Invoice Furnishing Facility from January-2024 tax periods onwards.
- Values will be auto populated from Unregistered Supplier and Registered Recipient (URP2B) & Registered Supplier and Registered Recipient (B2B) section of table 15 to this new e-commerce operators – Documents table of GSTR-2B.
- To view the records in e-commerce operators -Documents table, GST Taxpayer can navigate to Returns Dashboard > Selection of Period > Auto- drafted Input tax credit Statement for month GSTR 2B > View > e-commerce operators Documents.
Please check click here for the complete GST Advisory
**********************************************************
If this article has helped you in any way, i would appreciate if you could share/like it or leave a comment. Thank you for visiting my blog.
Legal Disclaimer:
The information / articles & any relies to the comments on this blog are provided purely for informational and educational purposes only & are purely based on my understanding / knowledge. They do noy constitute legal advice or legal opinions. The information / articles and any replies to the comments are intended but not promised or guaranteed to be current, complete, or up-to-date and should in no way be taken as a legal advice or an indication of future results. Therefore, i can not take any responsibility for the results or consequences of any attempt to use or adopt any of the information presented on this blog. You are advised not to act or rely on any information / articles contained without first seeking the advice of a practicing professional.