From 1st September, many changes in the GST Act will take place that will impact your GST Returns filing
➡️From September 2024, if a supply’s value is above Rs. 1 lakh, it must be reported in GSTR-1’s Table B2CL.
➡️Taxpayers can now report negative liability in GSTR-3B’s Table No. 3. The negative liability will be automatically adjusted in the next month’s return, making the reconciliation process smoother.
➡️From 1st September 2024: If you haven’t added and validated your bank account details in your GST registration, your GSTR-1 /IFF will be blocked.
➡️GSTR-9 and GSTR-9C: Forms GSTR-9 (Annual Return) and GSTR-9C (Reconciliation Statement) will be active on the GST portal.