Amendments made in GSTR-3B post 47th GSTC MeetingAnalysis & Challenges to be faced by Industry

The process of return filing under GST has been simplified over the period. With effect from December 2020, FORM GSTR-3B is getting auto-generated on the portal by way of auto-population of input tax credit (ITC) from FORM GSTR-2B (auto-generated inward supply statement) and auto-population of liabilities from FORM GSTR-1 (Outward supply statement), with an editing facility to the registered person. However, there are still some infirmities in information being furnished by the registered person in FORM GSTR-3B. In order to overcome such infirmities, various changes and clarifications have been made and provided in Form GSTR-3B vide Notification 14/2022-Central Tax dated 05-07-2022 and Circular No. 170/02/2022-GST dated 06-07-2022, the detailed analysis of the same is provided below:Read more...