BIG ADVISORY BY GST Portal for GSTR 9 FY 23-24| Deal with difference in value of Table 8 GSTR9

Advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24
As per the Notification No 12/2024 Central Tax dated 10th July 2024 read with Notification No.20/2024-Central Tax Dated 8th October 2024, for FY 2023-24 onwards, the total credit available for inwards supplies shall be auto-populated in the table 8A of Form GSTR 9 from GSTR-2B of the FY 23-24. Further, in table 8C of Form GSTR-9 total value of ITC on inwards supplies received during the FY but availed in next FY up to specified period, need to be filled manually.
2. Various tickets are received, wherein concerns have been raised regarding possible mismatch between the values of table 8A and 8C of Form GSTR-9 for FY 23-24. It is pertinent to mention that for FY 22-23 in table 8A of Form GSTR-9, values were getting auto populated from GSTR-2A however for FY 23-24 same are being auto populated from GSTR-2B. Therefore, to some extent, in Form GSTR-9 of FY 23-24, values in Table 8A will be inflated in respect of FY 22-23 at the same time values will be lower than expected in respect of FY 23-24, hence there will be a mismatch between the two tables i.e. 8A and 8C. Few scenarios in this regard are advised hereunder: -
1. Invoice having the date of FY 23-24 but the supplier has reported in the GSTR 1 after the due date of March’24. As a result, this amount is not auto populated in the Table 8A of GSTR 9 for FY 2023-24 because it is the part of next years GSTR 2B. How to report such transaction in the GSTR 9 of FY 23-24?
2. Invoice belongs to FY 23-24 and ITC has been claimed in FY 23-24. Due to payment not made to supplier within 180 days, ITC was reversed in 23-24 as per the second proviso to section 16(2) and this ITC is reclaimed in next Year FY 2024-25, after making the payment to supplier. How to report such transaction in the GSTR 9 of FY 23-24?
3. Invoice belongs to FY 2023-24 but goods not received in 23-24 therefore ITC is claimed in Table 4A5 of GSTR 3B and reversed in Table 4B2 as per the guidelines of Circular 170 and such ITC reclaimed in next FY 2024-25 till the specified time period. How to report such transaction in the GSTR 9 of FY 23-24?
4. Invoice belongs to FY 22-23 which is appearing in the Table 8A of GSTR 9 of FY 23-24 , as the supplier would have reported the same in GSTR 1 after the due date of filing of GSTR-1 for the tax period of March 23. How to report such transaction in the GSTR 9 of FY 23-24?
5. Where to report the reclaim of ITC for an Invoice which belongs to FY 2023-24, and which is claimed, reversed and reclaimed in the same year?
Press release link - www.gst.gov.in...
#GSTChanges
#GSTNews
#GSTLatest
#GSTUpdates
#GSTAmendments
#TaxWithoutTears
#CADivyaAggarwal
#CADivyaBansal
#GSTLatestUpdate
#Section38GST
#GSTBuyerProblem
#BewareofGSTSupplier
#tax2023
#GST
*Disclaimer*
1. This video is for creating awareness about the newly introduced tax reform GST.
2. Here Tax without tears (TWT) team does not intend to advertise/solicit clients & doesn’t take responsibility for any decisions taken on the basis of this video.
For more important updates and resources connect with us on
Facebook:
/ taxwithouttears
You tube:
/ taxwithouttears
Twitter:
/ taxwithouttears
LinkedIn:
/ divya-bansal-438294158
Telegram:
t.me/taxwithou...
Instagram:
www.instagram....
You can drop your concerns at [e-mail]

[@TaxwithoutTears]

Press release link - www.gst.gov.in/newsandupdates/read/557

[@1986_SRK]

Govt be like :- ये प्रॉब्लम कभी सॉल्व नहीं होनी चाहिए बल्कि इनका issue बना के राजनीति खेलनी चाहिए😂😂

[@govindtrivedi6280]

Thank you for important information

[@neerajg932]

Diff is showing in colum 8a summary and excel of colum 8a what to do

[@RKBTaxConsultancy]

Mar 24 Bill ka ITC Mar 24 3B me claim kiya hai. Party ne May 24 me show kiya hai. MAY 24 Gstr-2B me reflect kar rahe. How to report in Gstr-9 ?

[@nitinmenghrajani8558]

Ma'am, I had claimed ITC as per books in fy 23-24( not as per 2B) as the supplier had filed R1 after due date. Now the difference in 8D table. Mar 24 ITC claimed in mar 24 return but invoice was reflected in apr 24 gst. Now what should I do? Pls guide

[@AjayTHAKUR-le5dw]

Gstr-9C me reconciliation de do. Yadi 9C applicable nahi hai toh proper working mention rakho for future reference if query raised by the department

[@Tax_Corner]

Thank you so much madam

[@somnathdeysarkar6257]

Madam pls clarify that GSTR - 3B itc reversed and reclaimed procesed how to shown GSTR -9 6B Column??

[@SANJAY.S.SHRIVASTAV]

Thanks mam

[@mansukhdugar2519]

Gstn Got mad