Quick Summary
In a bid to bolster transparency and streamline reporting mechanisms, the Goods and Services Tax Network (GSTN) has introduced a significant enhancement to the GST Return form GSTR-1. This latest update focuses on enriching the reporting process for taxpayers who generate e-invoices, presenting them with a more comprehensive overview of their outward supplies. The pivotal alteration resides within Table 12 - HSN wise summary of outward supplies, where GSTN has incorporated a new feature to em
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FAQ :
GSTN has introduced a new feature to Table 12 of the GSTR-1 form, enabling a more detailed HSN (Harmonized System of Nomenclature) wise summary of outward supplies.
Taxpayers who generate e-invoices will benefit most, as the feature provides a more comprehensive overview of their outward supplies categorised by HSN codes.
The enhanced Table 12 aims to increase transparency, improve accuracy, and streamline the reporting process for outward supplies based on specific HSN codes.
If an HSN is not available in the search results, taxpayers can enter it manually. It's important to click on the description/UQC after typing the HSN to enable other fields.
After any modification (Add, Edit) in Table 12, taxpayers must click on the save button to ensure their changes are saved.
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