Understanding the GSTN Advisory on Differences in Table 8A and 8C of Annual Returns for FY 2023-24

Understanding the GSTN Advisory on Differences in Table 8A and 8C of Annual Returns for FY 2023-24

The Goods and Services Tax Network (GSTN) recently issued an advisory addressing discrepancies between Table 8A and Table 8C in the annual returns (Form GSTR-9) for the financial year 2023-24. This advisory is crucial for businesses to ensure accurate reporting and compliance.

Key Changes and Issues

Auto-Population from GSTR-2B: For FY 2023-24, the total credit available for inward supplies is auto-populated in Table 8A of Form GSTR-9 from GSTR-2B. This is a shift from the previous year, where values were auto-populated from GSTR-2A

Manual Entry in Table 8C: Table 8C requires manual entry of the total value of Input Tax Credit (ITC) on inward supplies received during the FY but availed in the next FY up to a specified period

This manual entry can lead to discrepancies between the values in Table 8A and Table 8C.

Common Scenarios and Reporting Guidelines

1. Invoices Reported Late:

   • Scenario: An invoice dated FY 2023-24 is reported in GSTR-1 after March 2024.
   • Reporting: Such ITC should be reported in Table 8C and Table 13 of GSTR-9 for FY 2023-24
     

2. Reversed and Reclaimed ITC:

   • Scenario: ITC claimed in FY 2023-24 is reversed due to non-payment within 180 days and reclaimed in FY 2024-25.
   • Reporting: This reclaimed ITC should be reported in Table 6H of GSTR-9 for FY 2024-25, not in Table 8C or Table 13 of FY 2023-24
     
     

3. Goods Not Received in FY 2023-24:

   • Scenario: An invoice belongs to FY 2023-24, but goods are received in FY 2024-25.
   • Reporting: Such ITC should be reported in Table 8C and Table 13 of GSTR-9 for FY 2023-24
     

4. Previous Year Invoices:

   • Scenario: An invoice from FY 2022-23 appears in Table 8A of GSTR-9 for FY 2023-24.
   • Reporting: Ensure proper reporting to avoid duplication and discrepancies
     

Importance of Accurate Reporting

Accurate reporting in GSTR-9 is essential to avoid penalties and ensure compliance with GST regulations. Businesses must carefully review their ITC claims and ensure that all entries in Table 8A and Table 8C are accurate and consistent with the guidelines provided by GSTN.

Conclusion

The GSTN advisory highlights the importance of understanding the differences between Table 8A and Table 8C in GSTR-9 for FY 2023-24. By following the reporting guidelines and addressing common scenarios, businesses can ensure accurate and compliant GST filings.

For more detailed information, visit the GST Portal.