GSTN issues detailed Advisory on new GSTR-1 Tables 14 & 15.

In a much-anticipated move, the Goods and Services Tax Network (GSTN) recently unveiled Advisory No. 621 on January 15, 2023, shedding light on the introduction of Tables 14 and 15 in GSTR-1. This advisory serves as a crucial roadmap for businesses navigating the intricate landscape of GST compliance. Let's delve into the key aspects outlined in this directive and understand how these tables are set to reshape the reporting framework.

 

Table Section
1. Introduction
2. Purpose and Applicability
3. Crucial Highlights of Tables 14 & 15:
4. Amendments and Auto-population:
5. Step-by-Step Reporting Guide:
6. Introduction of ECO-Documents in GSTR-2B:
7. FAQs

 

Purpose and Applicability:

The primary objective of this advisory is to bring to the forefront the newly introduced Tables 14 and 15 in FORM GSTR-1 and IFF. These tables specifically target businesses engaged in e-commerce operations or those obligated to pay tax under Section 9(5) of the GST Act. By streamlining reporting processes, the GSTN aims to enhance transparency and compliance in the ever-evolving tax landscape.

 

 

Crucial Highlights of Tables 14 & 15:

1. Table 14: Supplier's Reporting

• 14(a): Suppliers are now required to furnish details of supplies made through e-commerce operators, where operators are liable to collect tax (TCS).
• 14(b): Suppliers must report details of supplies through e-commerce operators where the operators are liable to pay tax under Section 9(5).

2. Table 15: E-Commerce Operator's Reporting

• B2B: Detailed information on supplies where both supplier and recipient are registered.
• B2C: Supplier-level details for supplies from a registered supplier to an unregistered recipient.
• URP2B: Document-level details for supplies from an unregistered supplier to a registered recipient.
• URP2C: POS and rate-wise details for supplies from an unregistered supplier to an unregistered recipient.

 

Amendments and Auto-population:

• The directive emphasizes the importance of reporting amendments in designated sections for both Tables 14 and 15.
• To streamline reporting, taxable values and tax liabilities will be auto-populated in GSTR-3B.

 

Step-by-Step Reporting Guide:

• Navigate to the Returns Dashboard and select the relevant period for GSTR-1.
• Access Tables 14(a) & 14(b) by clicking on the tabs dedicated to TCS and tax under Section 9(5).
• Utilize the various tabs in Table 15 for reporting different transaction types (B2B, B2C, URP2B, URP2C).
• After adding records, follow the existing process to file GSTR-1 seamlessly.

 

Introduction of ECO-Documents in GSTR-2B:

• Businesses now have the facility to pass input tax credit (ITC) to registered recipients.
• Values will be auto-populated from Table 15 to the newly introduced "ECO-Documents" table in GSTR-2B.
• Easily access the "ECO-Documents" table from the Returns Dashboard for a comprehensive overview.

 

(FAQs)

Q1: What is the purpose behind introducing Tables 14 and 15 in GSTR-1?

• A1: The introduction of Tables 14 and 15 in GSTR-1 serves the purpose of capturing detailed information about supplies made through e-commerce operators. These tables are specifically designed for businesses engaged in e-commerce operations or those obligated to pay tax under Section 9(5) of the GST Act.

Q2: When did GSTN issue Advisory No. 621, and when did the new tables become live on the GST common portal?

• A2: Advisory No. 621 was issued by GSTN on January 15, 2023. The new Tables 14 and 15 became live on the GST common portal from January 2024 tax periods onwards.

Q3: Which taxpayers are affected by the introduction of Tables 14 and 15?

• A3: Tables 14 and 15 are relevant for taxpayers who either supply through E-Commerce operators (ECO) or are themselves liable to pay tax under Section 9(5) of the GST Act.

Q4: What details are reported in Table 14(a) of GSTR-1?

• A4: In Table 14(a), suppliers report details of supplies made through e-commerce operators on which operators are liable to collect tax (TCS).

Q5: How can taxpayers access Table 15 for reporting different transaction types?

• A5: Taxpayers can access the various tabs in Table 15 for reporting different transaction types (B2B, B2C, URP2B, URP2C) by navigating to the Returns Dashboard, selecting the relevant period for GSTR-1, and following the prompts.

Q6: What is the significance of the "ECO-Documents" table introduced in GSTR-2B?

• A6: The "ECO-Documents" table in GSTR-2B allows businesses to pass input tax credit (ITC) to registered recipients. Values are auto-populated from Table 15, providing a comprehensive view of the supplies received through e-commerce operators on which the operator is liable to pay tax under Section 9(5).

Q7: Are there any auto-population features for taxable values and tax liabilities in GSTR-3B?

• A7: Yes, taxable values and tax liabilities from Tables 14 and 15 are auto-populated in GSTR-3B, streamlining the reporting process for businesses.

Q8: What should e-commerce operators do if e-invoices for 9(5) supplies are not auto-populated in Table 15?

• A8: E-commerce operators are advised to examine and manually add such records related to 9(5) supplies in Table 15.

Q9: How can taxpayers view the "ECO-Documents" table in GSTR-2B?

• A9: Taxpayers can view the "ECO-Documents" table in GSTR-2B by navigating to the Returns Dashboard, selecting the relevant period for Auto-drafted ITC Statement, and clicking on the "View" option.

Q10: What is the significance of reporting amendments in Tables 14 and 15?

• A10: Amendments for Tables 14 and 15 should be reported in designated sections to ensure accurate and up-to-date information is reflected in the GST filing.

 

As businesses strive to stay abreast of the ever-changing GST landscape, the introduction of Tables 14 and 15 marks a significant leap towards a more transparent and efficient reporting system. Adhering to the reporting steps outlined in this directive ensures that businesses can seamlessly adapt to the new framework while maintaining compliance. Keep a close eye on further updates from GSTN, and embrace these changes to usher in a new era of GST reporting. Stay compliant, stay informed.