GST NEWS BULLETIN

GSTN introduces much-awaited changes in GSTR-3B; Negative Values in Table 4 (ITC) of GSTR-3B are now LIVE on the GST portal

The Goods and Services Tax Network ("GSTN") has issued an Advisory dated February 17, 2023, regarding the Introduction of Negative Values in Table 4 of GSTR-3B. The Government vide Notification No. 14/2022 – Central Tax dated July 05, 2022, has notified few changes in Table 4 of Form GSTR-3B for enabling taxpayers to report correct information regarding ITC availed, ITC reversal, and ineligible ITC in Table 4 of GSTR-3B. According to the changes, the net ITC is to be reported in Table 4(A), and ITC reversal, if any, is to be reported in Table 4(B) of GSTR-3B.

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