The Goods and Services Tax Network (GSTN) has issued an important update regarding the introduction of negative values in Table 4 of GSTR-3B. The changes have been made in accordance with the Notification No. 14/2022 – Central Tax dated July 05, 2022, which enabled taxpayers to accurately report their Input Tax Credit (ITC) availed, ITC reversal, and ineligible ITC in Table 4 of GSTR-3B.
Source Taxscan
Latest Posts in "India"
- Meghalaya Extends VAT Exemption on Fruit Wine to 10 Years, Boosting Local Wine Industry
- Allahabad HC: Arbitrary GST Registration Cancellations Without Reasons Amount to ‘Economic Death’ for Businesses
- Chennai Fake GST Invoice Racket Busted; ₹350 Crore Evasion Suspected, Prime Accused Arrested
- Overpaid GST: Rectification or Refund? Understanding When to Adjust and When to Claim Refund
- Insurance Brokers Push for Zero-Rated GST to Restore Input Tax Credit and Prevent Premium Hikes
