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1. Changes Related to GSTR-3B: –

1. Linking GSTR-1 with GSTR-3B (for the flow of liability).PDF Mail of filed GSTR-3B.

2. Linking GSTR-2A/2B & Ice-gate data with GSTR-3B for better ITC Availment.

2. Changes Related to GSTR-1: –

1. De-Linking of GSTR-1 invoices for Credit/ Debit notes. So now we can enter the details of Credit notes which are issued at the of final adjustment most the discount related issues will be solved now.

3. GSTR-2A related changes: –

1. ITC auto population form ICEGATE portal for which IGST paid at the time of Imports.

2. Amendments of Invoices by the supplier in his GSTR-1 will be reflected in GSTR-2A month wise which helps in proper reconciliation of ITC.

3. GSTR-2A to Display the return filing status of GSTR-1 and GSTR-3B of the supplier.

4. Reconciliation/Matching: –

1. A matching tool to be provide for better reconciliation of purchases with GSTR-2A.

2. To set up a Communication channel between buyer and Supplier for missing invoices which helps the proper ITC Availment and better reflection of GSTR-1 invoices which also helps in reconciliation of total turnover declared in GSTR-3B.

3. To setup a new facility of creation of Vendor master/HSN masters on taxpayer dashboard.

5. E-invoicing: –

1. The threshold for applicability of e-invoicing is increased form 100 cr to 500cr.

2. The applicability is likely to be stared from 1st October, 2020.

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May 2024