In an advisory, GSTN, which manages the Goods and Services Tax (GST) tax, said that from the April 2025 tax period, the auto-populated inter-state supplies in Table 3.2 of GSTR-3B will not be made editable. GSTN further said that GSTR-3B will be filed only with auto-populated values ​​generated by the system.

Read in detail Table 3.2 of Form GSTR-3B provides information about inter-state supplies made to unregistered persons, composition taxpayers and Unique Identification Number (UIN) holders from the supplies declared in Tables 3.1 and 3.1.1 of GSTR-3B. The values ​​in Table 3.2 of GSTR-3B are automatically populated from the inter-state supplies declared in the relevant tables of GSTR-1, GSTR-1A and IFF.

GSTN said that taxpayers can correct the values ​​automatically entered in Table 3.2 of GSTR 3B by making amendments through Form GSTR-1A or Form GSTR-1/IFF filed for subsequent tax periods. GSTN said, “Taxpayers should ensure that inter-state supplies are correctly reported in their GSTR-1, GSTR-1A or IFF. So that the correct values ​​are automatically entered in Table 3.2 of GSTR-3B.”

Compliance may be affected

AMRG & Associates Senior Partner Rajat Mohan said that this is a big change, which will have a profound impact on compliance. This automation will align GSTR-3B with GSTR-1 as well as get rid of manual process. This will help in reducing errors and revenue leakage.

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Under this, those companies come which are not required to obtain GST Registration, but are required to pay tax under the GST Act provision.

Under the Goods and Services Tax (GST) rules, registration is mandatory for businesses with an annual turnover of Rs 40 lakh and Rs 20 lakh in the manufacturing and service sectors respectively. Introducing Rule 16A in the Central GST Rules, CBIC said that where a person is not liable for registration under the Act, but is required to make any payment under the provision of the Act, the proper officer may assign a temporary identification number to that person.

What will be the benefit of this?

In its meeting last month, the GST Council had decided to issue TIN to those entities which do not require GST registration. This will ensure smooth tax payment and reduce the burden of compliance on those who are not regularly involved in taxable activities.

GST Collection Data

Let us tell you here that the gross GST collection in December 2024 was Rs 1,76,857 crore, which is 7.3 percent more than last year. At the same time, just a month ago i.e. in November, GST collection increased by 8.5 percent to Rs 1.82 lakh crore. According to government data, the total gross Goods and Services Tax (GST) revenue in November increased by 8.5 percent year-on-year to more than Rs 1.82 lakh crore, whereas in the same month a year ago it was Rs 1.68 lakh crore.

CGST stood at Rs 32836 crore. SGST stood at Rs 40499 crore. IGST stood at Rs 912331 crore and CESS stood at Rs 12301 crore.

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The post GST New Rule: CBIC has notified the new rules of GST – All Need To Know first appeared on Rightsofemployees.com.

Under the Goods and Services Tax (GST), new rules are going to be implemented from August 1. This new rule is related to companies whose turnover is 5 crores or more. Earlier this new rule was applicable to annual turnover of Rs 10 crore or more, but now it has been reduced to half.

As per GST guidelines, it is mandatory for companies with B2B transaction value of Rs 5 crore to issue electronic invoices. On July 28, the Central Board of Indirect Taxes and Customs had informed about the change in the rule by tweeting.

Scope will increase under GST

In its tweet, CBI said that GST taxpayers whose aggregate turnover in any financial year is more than 5 crores, they will have to compulsorily furnish e-invoice for B2B supply or export of goods or services or both from 1st August 2023 . In May, notification was issued by CBIC for businesses with lower limit. This step will help in boosting the collection and compliance under GST.

GST E-Invoice Rules

Experts believe that the change in e-invoice rule and inclusion of companies with low turnover can help in promoting MSME units. According to a PTI report, Deloitte India Partner Leader Indirect Tax Mahesh Jaising said that with this announcement, the scope of MSMEs under e-invoicing will be expanded and they will be required to implement e-invoicing.

GST revenue will increase

The limit for issuing e-invoice for B2B transactions has been reduced from Rs 10 crore to Rs 5 crore. This will help the GST department in increasing the revenue and will help in dealing with the tax invasion. Apart from this, the government has also focused on tracking and monitoring tax evaders.

The post GST New Rule: From today the new rule is going to be implemented, Know the new rules first appeared on Rightsofemployees.com.