Major changes coming to the GST Portal

Changes Related to GSTR-3B: –

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

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

Changes Related to GSTR-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.

GSTR-2A related changes: –

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

• 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.

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

Reconciliation/Matching: –

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

• 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.

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

E-invoicing: –

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

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