Topic: Recent GST changes & its business impact

Brief:- 

Did you get the update of imposing a time limit for e-invoice generation? Yes, this has a big impact on the process of auto-population of e-invoice details into GSTR-1. Wherever, the e-invoices are not generated in seven days by the applicable taxpayers, GSTR-1 does not populated with such details. It increases reporting responsibilities of the finance team. 

Moreover, GST portal is implementing certain legal changes on its system every month, such as the mandatory six-digit valid HSN code reporting where AATO of business is more than 5 crores in any previous financial year.

Most recently, did you learn about the amnesty scheme 2023? The scheme shall be valid until 30th June 2023 for taxpayers who want to claim benefits of reduced late fee under it for various pending returns.

GSTR-1 and GSTR-3B filing process has gotten upgraded with revisions in its format. The government is moving towards a detailed structure and auto-population of inputs into returns for transparency and timely reporting.

Watch this webinar by CA Shailja Sood on 4th May 2023 from 4 to 5 p.m. to learn all the latest changes in GSTR-1, GSTR-3B filing and other GST portal updates. Not only this, get to know how these changes can impact your business with the help of a live Q&A.

Points to be covered:-

• Changes in GSTR-1
• Changes in GSTR-3B
• Impact on GSTR Filling way forward
• Other important changes in GSTN/GST portal
• Live FAQs