Effective from January 2024, the GSTN has incorporated two new sections in GSTR-1 to enhance reporting accuracy.
In Table 14, it is now possible to include information about taxable outward supplies made through e-commerce operators. Suppliers can furnish specific details regarding these transactions in this table.
Likewise, Table 15 is assigned for the reporting of taxable outward supplies falling under Section 9(5) of the Central Goods and Services Tax Act, where the responsibility for tax payment lies with the e-commerce operator. Suppliers can now enter pertinent details in this table to ensure thorough reporting.
Seamless Tax Compliance via GSTN Reforms:
Regarding GSTR-3B, the revised Table 3.1.1 specifically addresses supplies notified under Section 9(5) of the CGST Act, 2017. It is mandatory for both suppliers and e-commerce operators to individually record supplies for which the tax liability is borne by the e-commerce operator.
Unlike the previous setup, GSTR-1 did not have specific tables for reporting individual transactions, resulting in the automatic non-filling of Table 3.1.1 in GSTR-3B.
However, from January 2024, the incorporation of Tables 14 and 15 into GSTR-1 enables suppliers and e-commerce operators in India to precisely record their supplies. This enhancement simplifies the reporting procedure, guaranteeing accuracy in tax-related records for both suppliers and e-commerce operators and facilitating the automatic population of Table 3.1.1 in GSTR-3B.
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