New Auto-Population Feature for GSTR-9/9C: What You Need to Know
Introduction:
The GST Network (GSTN) has introduced a new feature to auto-populate eligible Input Tax Credit (ITC) for domestic supplies in GSTR-9 and GSTR-9C. This change, effective from FY 2023-24, aims to simplify the annual return filing process for taxpayers.
Key Points:
- Auto-Population of ITC: Starting FY 2023-24, the GST system will auto-populate eligible ITC for domestic supplies (excluding reverse charge and imports ITC) from table 3(I) of GSTR-2B to table 8A of GSTR-9.
- Availability: These changes are available on the GST portal from October 15th, 2024.
- Validation Utility: A validation utility will be progressively executed to complete the auto-population of GSTR-9 from GSTR-2B for the period April 2023 to March 2024.
Conclusion:
This new feature is designed to make the annual return filing process more efficient and accurate. TaxPowerGST is here to help you navigate these updates with our advanced GST software solutions. Stay compliant and streamline your tax processes with TaxPowerGST.
Blog Ref: GSTN Government Site
