GSTN has implemented automated interest computation through the Tax Liability Break-up mechanism in GSTR-3B to identify delayed tax payments relating to earlier periods. The update shifts GST compliance from manual assessment to system-driven validation based on invoice dates, reporting periods, and payment timelines.
TDS payments under Challan 281 require correct selection of system-driven Nature of Payment codes. The guide explains that wrong code selection can lead to credit mismatches and compliance issues.
The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity, reduces errors, and improves reporting efficiency.
