Upcoming Changes in GSTR-1, GSTR-2A, GSTR-3B by the GSTN

As per the latest GST news update, The New GST Return System (which was proposed to be implemented from 1st October 2020) has been scrapped. 

Also, the existing returns will be continued with the below-mentioned changes.

GSTN – Upcoming changes/initiatives👇

  • SMS based NIL Return filing for GSTR-3B and GSTR-1.
  • Improvements in GSTR-2A to show the status of filing of GSTR-1 and GSTR-3B by the supplier.
  • To show the status of the amendment of invoice with the month of the amendment.
  • Providing detail of invoices considered for computation in table 8A of GSTR-9.
  • The flow of ITC due to IGST paid on import from ICES to the GST System.
  • Linking GSTR-1 with GSTR-3B (for the flow of liability). PDF mail of filled GSTR-3B.
  • Linking GSTR-2A/2B & ICEGATE data with GSTR-3B for better ITC management.
  • Delinking of credit/debit notes with invoices in GSTR-1

GSTN – Upcoming changes with Matching Tool/Reconciliation Features👇

  • Matching Tool for comparison of system drafted purchase register and own purchase register.

  • Facility to create Vendor Master /HSN masters on taxpayer dashboard.

  • Communication of channel between buyer and supplier for missing invoices.

  • Improvement of Comparison Table of liability and ITC.

The general direction of user experience improvement👇

  • Enabling GSPs to do some more activities.
  • Compilation of common errors and way around.
  • Showing the status of the application after every stage of processing.

Challenges in ITC declaration using GSTR-2A👇

  • Dynamic statement
  • Has both uploaded and filed documents
  • No system aid to determine available ITC
  • Document sit in original tax period hence difficult in reconciliation
  • Long time for downloading GSTR-2A

Introducing GSTR-2B👇

  • Static Statement generated monthly
  • PDF and Emailer
  • Document-level ITC Available and Unavailable
  • ITC summarization aligned with GSTR-3B
  • Instant download of PDF, EXCEL
  • Filter and Search options
  • Advance search to view documents beyond 1000 record
[Source: GSTN Tech]

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[Disclaimer:-This article is being furnished for informational purposes only. We make every effort to use reliable & comprehensive information, but we do not represent that the contents of the article are accurate or complete.]

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