Change by GSTIN
On 17th of February, 2023 the government introduced a slight change in GSTR 3b. Notification No. 14/2022 Central Tax dated 05th July, 2022 as notified few changes in Table 4 of Form GSTR-3B for taxpayers to report correct information regarding ITC availed, ITC reversal and ineligible ITC in Table 4 of GSTR-3B. According to the changes, the net ITC is to be reported in Table 4(A) and ITC reversal, if any, is to be reported in Table 4(B) of GSTR-3B.
Currently, in GSTR-3B, credit note (CN) is auto-populated in Table 4B(2), as ITC reversal. Now in view of the said changes, the impact of credit notes are also to be accounted on net off basis in Table 4(A) of GSTR-3B only. Accordingly, the following changes have been made in the GST Portal from January-2023 onwards and shall be applicable from tax period – January 2023’ onwards.
- The impact of credit note & their amendments will now be auto-populated in Table 4(A) instead of Table 4(B) of GSTR-3B. In case the value of credit notes becomes higher than sum of invoices and debit notes put together, then the net ITC would become negative and the taxpayers will be allowed to report negative values in Table-4A. Also, taxpayers can now enter negative values in Table 4D(2) of GSTR-3B.
- Consequent updates/modifications in the advisory, messages, instructions, and help-text in form GSTR-2B, without any structural changes in form GSTR-2B summary or tables have also been done in GSTR-2B.
- The calculation logic of the Comparison Report has now been changed accordingly.
It is suggested by the GST department that all the GST taxpayers to go through the instructions/help text carefully in GSTR 2B & system generated a GSTR-3B pdf before filing GSTR-3B.
Additional Info
What is GSTR-3B?
FORM GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular tax period and discharge these liabilities. A normal taxpayer is required to file FORM GSTR-3B returns for every tax period.
Types of GST returns
There are 13 returns under GST. They are the GSTR-1, GSTR-3B, GSTR-4, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, GSTR-8, GSTR-9, GSTR-10, GSTR-11, CMP-08, and ITC-04. However, all returns do not apply to all taxpayers. Taxpayers file returns based on the type of taxpayer/type of registration obtained.
