- The GSTN issued Advisory No. 557 on December 9, 2024, addressing concerns regarding discrepancies between Table 8A and 8C of the GSTR-9 Annual Return for FY 2023-24, particularly with how values are auto-populated from GSTR-2B as opposed to GSTR-2A in the previous fiscal year.
- Key guidance includes how to report transactions involving invoices dated in FY 2023-24 but reported late by suppliers, as well as the treatment of ITC that has been claimed, reversed, and subsequently reclaimed, ensuring taxpayers maintain compliance with the updated reporting requirements.
- The advisory clarifies that certain ITC-related transactions must be reported in specific tables of the GSTR-9 form, emphasizing the importance of accurate reporting to avoid mismatches and penalties, and can be accessed through the GST portal for further details.
Source A2ztaxcorp
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