New Online Compliance Pertaining to Liability Appearing in GSTR-1 & GSTR-3B: GSTN Advisory
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- By Chetan Kulasri
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- Last Updated on 2 July, 2023
Latest from Taxmann
GSTN Update dated June 29th, 2023
The GSTN has issued an advisory to inform that it has developed a functionality to enable the taxpayer to explain the difference in GSTR-1 & 3B return online as directed by the GST Council. This feature is now live on the GST portal. The functionality compares the liability declared in GSTR-1/IFF with the liability paid in GSTR-3B/3BQ for each return period.
If the declared liability exceeds the paid liability by a predefined limit or the percentage difference exceeds the configurable threshold, taxpayer will receive an intimation in the form of DRC-01B. Upon receiving such intimation, the taxpayer must file a reply in Form DRC-01B Part B, and provide clarification through reasons in automated dropdown and details regarding the discrepancy, if not included in the dropdown.
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