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Introduction: The Goods and Services Tax Network (GSTN) plays a pivotal role in the seamless functioning of the GST portal, constantly enhancing its features. In January 2024, GSTN issued several advisories and introduced new functionalities to streamline tax compliance for taxpayers.
Common portal of GST, GSTN keeps on issuing advisories on new functions / updates on the portal for upgradation of functionalities and new options or functions enabled for implementation by taxpayers.
During the month of January, 2024 following advisories have been issued in relation to the various compliances:
- Changes in GSTR-1
- GST payments through cards
- Advisory on HSN Code –E-way Bill System
- Advisory on introduction of new Tables 14 & 15 in GSTR-1
- Notices & Orders on GST Portal
- GST payment by UPI option
- New Functionality for LUT on GSTN
- Advisory on payment of GST
- GSTN Advisory on Bank Details
These are summarized below:
Changes in GSTR-1
- GSTN has introduced new changes in GSTR-1.
- Two new Tables -14 and 15 have been added to GSTR-1.
- Table 14 – Supplies made through E-Commerce Operators (In this table, taxpayers can add details of taxable outward supplies made through e-commerce operator.)
- Table 15 – Supplies under Section 9(5) of the CGST Act [In this table, taxpayers can add details of taxable outward supplies on which the E-Commerce Operator is liable to pay tax under Section 9(5)].
- Till now, GSTR-1 was not having specific tables for reporting these transactions separately. As a result, Table 3.1.1 in GSTR-3B was not auto-filled due to the absence of corresponding reporting sections.
- W.e.f. January 2024, GSTR-1 has introduced Tables 14 and 15 specifically designed for reporting supplies on which E-Commerce Operators are liable to pay tax.
- This modification ensures accurate auto-filling of Table 3.1.1 in GSTR-3B for both, suppliers and e-commerce operators.
- In GSTR – 3B, Table 3.1.1 addresses supplies notified under Section 9(5) of the CGST Act, 2017. This table requires suppliers and E-Commerce Operators (ECOs) to separately report supplies on which the E-commerce Operator is liable to pay tax.
- This will be effective from January, 2024.
(Source: GSTN Portal dated 03.01.2024)
GST payments through cards
- GSTN has enabled GST payments through Credit Cards/Debit Cards on the GST Portal.
- Accordingly, taxpayers will now have the option to make GST payments through Credit Cards and Debit Cards.
- For this, taxpayers should opt for the E-payment option, where they will find a specific section dedicated to Credit/Debit Card payments.
- It is advisable for taxpayers to carefully review the transaction charges associated with each payment method, particularly when selecting Credit Cards, Debit Cards, or Bhim UPI sub-payment modes.
- Charges will be applicable to payments made through credit cards, debit cards, and UPI.
(Source: GSTN Portal dated 05.01.2024)
Advisory on HSN Code –E-way Bill System
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- New HSN Codes for E-way Bills shall come into force w.e.f. 1st February, 2024. An advisory has been issued by National Informatics Centre.
- As per the Notification No. 78/2020-Central Tax, dated 15th October, 2020, it was made necessary to provide at least 6 digit HSN code for all the B2B and Export transactions by the taxpayers whose Annual Aggregate Turnover (AATO) is more than Rs. 5 Crores. The taxpayers, with AATO of less than Rs. 5 Crores, need to provide at least 4 digit HSN Code.
- This validation will be implemented in E-Way Bill system from 1st February, 2024.
- The taxpayers are advised to make necessary changes in their systems and enter 4/6 digit HSN Codes while generating the E-Way Bills through web and API systems from 1st February, 2024.
(Source: NIC Advisory dated 05.01.2024)
Advisory on introduction of new Tables 14 & 15 in GSTR-1
- GSTN has issued an Advisory on introduction of new Tables 14 & 15 in GSTR-1.
- As per Notification No. 26/2022 – Central Tax dated 26th December 2022, two new tables Table 14 and Table 15 were added in GSTR-1 to capture the details of the supplies made through e-commerce operators (ECO) on which e-commerce operators are liable to collect tax under section 52 of the Act or liable to pay tax u/s 9(5).
- These tables have now been made live on the GST common portal and will be available in GSTR-1/IFF from January-2024 tax periods onwards.
- The advisory comprises of:
- Table-wise details
- Steps to report details in Table 14 / 15
- Introduction of new table – Eco documents in GSTR-2B
- Taxpayers can access the Table 14(a) & 14(b) by clicking the Liable to collect tax u/s 52 (TCS) and Liable to pay tax u/s 9(5) respectively available at the top of table 14 page. Similarly, the different section of Table 15 can be accessed using the respective tab available at top of the table 15 page.
- To view the ECO-Documents table, taxpayer can navigate to Returns Dashboard > Selection of Period > Auto- drafted ITC Statement for the month GSTR 2B > View
- Taxable value along with tax liabilities from all the above four sections i.e., B2B, B2C, URP2B and URP2C of table 15 will be auto-populated to table 3.1.1(i) of GSTR-3B.
- There will be no auto-population of e-invoice in Table -15. E-invoices reported for 9(5) supplies will be populated in FORM GSTR-1 as per existing functionality. E-commerce operator are advised to examine and add such records in table 15 related to 9(5) supplies.
(Source: GSTN Advisory dated 15.01.2024)
Notices & Orders on GST Portal
- GSTN has updated its service in relation to notices and orders as depicted and mentioned below:
- Following Notices / Orders issued by tax authorities are available under ‘Notices and Orders’:
- Notice / Orders / Intimations pertaining to registration including new registration, amendment, cancellation, revocation and other communications
- Notices issued by System to return defaulters in Form GSTR-3A
- Notices pertaining to Return module comprising GST DRC-01B and GST DRC-01C
- Summary of assessment order issued in Form GST DRC-07 where notices and other proceedings were held offline
- Following Notices / Orders issued by tax authorities are available under ‘Additional Notices and Orders’:
- Notices / Orders pertaining to modules- Advance Ruling, Appeal, Assessment / Adjudication, Audit, Enforcement, Prosecution and Compounding, Recovery, LUT etc.
- Notices / Orders pertaining to Refund module will be shown under case details page of respective ARN of refund. Taxpayers can navigate to ‘Services > User Services > My application’ and select ARN under Application Type as ‘REFUNDS’.
(Source: GSTN Portal)
GST payment by UPI option
- Payment of tax under GST regime goes digital.
- GSTN has launched option to pay GST by using United Payment Interface (UPI) mode in 10 states.
- These ten States and Union Territories are- Assam, Delhi, Goa, Gujarat, Haryana, Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, and Odisha.
- This initiative is accessible through all UPIs via Kotak Mahindra Bank, marks a notable step towards digitizing and simplifying the GST payment process.
(Source https://twitter.com/Infosys_GSTN/status/1747852507131339195 dated 19.01.2024)
New Functionality for LUT on GSTN
- GSTN has enabled functionality to furnish Letter of Undertaking (LUT) for Financial Year 2024-25.
- The Goods and Services Tax Network (GSTN) has enabled the functionality to furnish a Letter of Undertaking (LUT) for the Financial Year 2024-2025 on the GST Portal.
- The completion for such undertaking is mandatory by March 31, 2024, or before the supply for Exports and Special Economic Zones (SEZ).
- The previous Letter of Undertaking (LUT) shall be valid until March 31, 2024.
- The functionality can be accessed on Dashboard >Services > User Services > Furnish Letter of Undertaking >Select Financial Year and apply for LUT.
(Source: GST Portal dated 19.01.2024)
Advisory on payment of GST
- GSTN has issued an Advisory on Payment through Credit Card (CC)/Debit Card (DC) and Unified Payments Interface (UPI).
- To facilitate the taxpayer registered under GST with more methods of payment, two new facilities of payment have now been provided under e-payment in addition to net-banking. The two new methods are Cards and Unified Payments Interface (UPI). Cards facility includes Credit Card (CC) and Debit Card (DC) namely Mastercard, Visa, RuPay, Diners(CC only) issued by any Indian bank.
- Payment through CC/DC/UPI can be made through Kotak Mahindra Bank irrespective of CC/DC issued by any Indian bank. Other banks are in the process of integration. At present the facility is available in 10 states and remaining states are expected to join soon.
- Steps involved:
(Source: GSTN Advisory dated 19.01.2024)
GSTN Advisory on Bank Details
- GSTN has issued an Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017.
- All registered taxpayers are required to furnish details of their bank account/s within 30 days of the grant of registration or before the due date of filing GSTR-1/IFF, whichever is earlier.
- Taxpayers have been advised to promptly furnish their bank account details, who have not provided it so far if 30 Days period is shortly going to expire to avoid disruption in business activities and the subsequent suspension of GSTIN.
- GSTN is also developing a new functionality with following features:
- Failure to furnish bank account in stipulated time
- Revocation of suspension
- Cancellation of registration
- Taxpayers should take immediate action to provide the necessary information and avoid any adverse consequences.
(Source: GSTN Advisor dated 23.01.2024)
Conclusion: In conclusion, the January 2024 updates from GSTN mark significant strides in enhancing the GST portal’s functionality. Taxpayers must stay abreast of these changes, ensuring seamless compliance with the latest regulations. The proactive approach to new advisories and functionalities reflects GSTN’s commitment to simplifying tax processes and fostering a transparent and efficient tax ecosystem. Stay tuned for more updates as the GST landscape continues to evolve.
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Very well explained sir.