Big News!! for Business In January 2024, The CBIC Department is rolling out the most awaited changes to GSTR 1 form. CBIC has issued GST Advisory on GSTR 1, Introducing new table 14 and 15. Starting from January 2024, GSTR 1 Form will now incorporate the newly added tables 14 and 15. Table 14 relates to supplies made through e-commerce operators on which ECO is liable to collect tax u/s 52 (TCS) and table 15 relates to supplies on which ECO is liable to pay tax u/s 9(5). You can see these changes after clicking on E-filing option. It is like a makeover for easier and more accurate reporting. Curious about the options are available in table 14 and 15? as well as how to fill them? we will learn all of these details below:
TABLE 14 : Supplies made through E-commerce Operators
In this table Supplier can add details of taxable outward supplies made through e-commerce operators.
Liable to collect tax u/s 52 (TCS) – by default this tab shall be displayed in table 14. Supplier needs to report the summary of the TCS supplies made u/s 52.
Liable to pay tax u/s 9(5) – This tab will be displayed in table 14. Supplier will be able to add record in this tab by clicking on the tab. In this tab supplies made through e-commerce operators covered u/s 9(5) need to be reported by supplier.
Details of fields/options provided in Table 14 for data feeding
Add Record – Supplier can add details (E-commerce wise) by using this tab.
Processed Records – The details which are successfully added are available under processed records table.
Pending/ Errored Records – The details which are added but not processed successfully will be displayed here.
Back – Supplier can navigate back to GSTR 1 dashboard page by clicking on this button.
TABLE :15 – Supplies on which ECO liable to pay tax u/s 9(5)
In this table E-COMMERCE OPERATOR can report the supplies on which eco is liable to pay tax u/s 9(5) of the Act for the below types of Suppliers and Recipients:
1. Registered to Registered (B2B)
By Default this tab shall be displayed. Records shall be displayed on the basis of recipient wise and supplier wise in Record Detail Table. Following Details shall be provided in the given tab:
a. Supplier Details – GSTIN of supplier, Trade/Legal Name of the Supplier
b. Recipient Details – GSTIN of Recipient, Trade/Legal Name of the Recipient
c. Processed Records- Records which are successfully added shall be displayed here. on click of the hyper link, you can navigate to ‘DOCUMENT WISE DETAILS’ Tab.
d. Pending/Errored Records – You can view the no. of records which are pending or not processed. by clicking on the hyperlink you can check details in ‘ PENDING/ERRORED RECORDS’ tab
e. Add Document – On click of the + symbol, Add page shall be opened with prefilled details of Supplier and Recipient GSTIN.
* DOCUMENT WISE DETAILS – Here all the processed records added in respect to a particular supplier/ recipient GSTIN can be viewed. One can Edit document details or Delete them before submitting GSTR 1.
*ACTION – In ACTION Tab, Edit option will open the document details for editing. Delete icon will delete the documents details.
2. Registered to Unregistered (B2C)
In this Tab, you can add details of Taxable Outward Supplies related to registered Supplier and unregistered Recipient. Recipient wise details shall be displayed in Record Details.
3. Unregistered to Registered (URP2B)
In this Tab, Supplies related to unregistered Supplier and registered Recipient need to be reported. Records added shall be displayed Recipient wise.
Unregistered to Unregistered (URP2C)
in this tab you can add details of taxable outward supplies related to unregistered Supplier and unregistered Recipient
Unlock the details of Upcoming January 2024 GSTR 1 Changes! The complete advisory is at your fingertips for guiding you through the introduction of table 14 and table 15. If you need assistance in navigating these changes, we ‘ve got your back at Taxtrix. Let’s make taxes simple together.
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