Negative Values Are Allowed To Be Reported On GST Portal
- GST portal started the reporting of negative values in the GSTR-3B. It is the summary return of the regular GST taxpayers.
- According to the changes the value in Tables 4A and 4D of the GSTR-3B can be negative.
- This advisory was issued by the GST Network at the portal; on 17th February 2023. The change is applicable from now onwards.
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- Currently, GSTR-3D allows credit number (CN) to auto-populate in Table 4B (2), ITC reversal.
- After the change, CN will be accounted for on a net basis in Table 4A, GSTR-3B.
- This change will allow taxpayers to easier reconcile in GSTR-9 while reporting annual returns.
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