Quick Summary
1. The Government vide Notification No. 14/2022 Central Tax dated 05th July, 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
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FAQ :
The main change is that Table 4 of GSTR-3B can now accept negative values, specifically in Table 4(A) and 4D(2).
These changes have been applicable from the tax period of January 2023 onwards.
The impact of credit notes and their amendments will now be auto-populated in Table 4(A) of GSTR-3B on a net-off basis, instead of being shown as ITC reversal in Table 4(B).
Taxpayers can report negative values in Table 4(A) if the value of credit notes becomes higher than the sum of invoices and debit notes combined.
Taxpayers are advised to carefully review the instructions and help text provided in GSTR-2B and the system-generated GSTR-3B PDF before filing.
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