Hard-Locking of Auto-Populated Liability in GSTR-3B: What You Need to Know
Introduction:
The GST Network (GSTN) has announced significant updates to the GSTR-3B filing process to minimize errors and enhance accuracy. Starting tentatively from January 2025, changes to auto-populated liabilities in GSTR-3B will be restricted. Here’s what you need to know about these changes.
Key Points:
- Pre-Filled GSTR-3B Forms: The GST Portal now provides pre-filled GSTR-3B forms where tax liability is auto-populated from GSTR-1/GSTR-1A/IFF and ITC from GSTR-2B. A detailed system-generated PDF of the auto-populated GSTR-3B is available to all taxpayers.
- Amendment Facility: Taxpayers can amend incorrectly declared outward supplies in GSTR-1/IFF through GSTR-1A before filing GSTR-3B. This allows for corrections to be made to liabilities.
- Invoice Management System (IMS): Taxpayers can manage inward supplies and ensure accurate ITC claims in GSTR-3B by taking actions (accept/reject/pending) on inward supplies via the IMS.
- Hard-Locking of Liabilities: From January 2025, the GST Portal will restrict changes to auto-populated liabilities in pre-filled GSTR-3B from GSTR-1/1A/IFF to enhance accuracy. Any required changes should be handled through GSTR-1A.
- Future ITC Locking: Locking of auto-populated ITC in GSTR-3B will be implemented at a later date, with a separate advisory to be issued after addressing IMS-related issues.
Conclusion:
These updates are designed to streamline the return filing process and reduce errors. TaxPowerGST is here to help you navigate these changes with our advanced GST software solutions. Stay compliant and efficient with TaxPowerGST.
Blog Ref: GSTN Government Site
