- Three key changes impacting GST return filing this month
- Aimed at tightening compliance and ensuring accurate bank details
- Month-on-month comparison shows slight dip in GST collections
- Changes under Notification No. 12/2024 to impact every taxpayer
- New reporting thresholds and liability adjustments introduced
- Supply valued above ₹1 lakh must be reported in GSTR-1’s Table B2CL
- Ability to report negative liability in GSTR-3B’s Table No. 3
- GSTR-1 or IFF will be blocked if bank account details are not added and validated
Source: businesstoday.in
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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