Goods and Services Tax Network (GSTN) announced unveiling of a facility that will allow taxpayers to view and download month-wise report on tax liability, declared and paid. There will also be information regarding input tax credit (ITC).This functionality has been provided in Returns dashboard on the GST portal to taxpayers under the headings ‘Comparison of liability declared and ITC claimed’. The data can also be downloaded in Excel file for viewing and comparison later on.
Prakash Kumar, CEO, GSTN Â said that this facility will help taxpayers in reconciling their liability and ITC details quickly and taxpayers can view the monthly comparison as well as cumulative comparison up to the month, on the portal in the tables provided.
The new facility enables the taxpayers to view the two liabilities in one table for each return period at one place, which can be compared. This will enable taxpayers to make good of any differences between GSTR-1 and GSTR-3B forms filed by them on GST portal.
Taxpayers have also been provided information regarding data of ITC as claimed in their Form GSTR 3B and as accrued in Form GSTR 2A. Taxpayers claim their ITC on supplies received by them during the month, in their Form GSTR 3B and use it to offset their tax liability during the month. Further, when their suppliers upload their Form GSTR-1, the data flows into receiver taxpayer’s (recipient’s) Form GSTR 2A. Thus, Form GSTR- 2A shows the details of supplies made to receiver taxpayers (recipient) along with tax details, which is nothing but ITC available to receiver taxpayers. Now taxpayers can see both these data sets and compare the input tax credit availed by them.
Similarly, taxpayers have been provided with a facility to view the liability paid due to reverse charge as declared & paid in Form GSTR 3B and as accrued in Form GSTR 2A, due to uploading of such details by the supplier in Form GSTR-1. Also, taxpayers can view and compare the liability related to exports & SEZ supplies as declared in their Form GSTR-3B during the month and liability as declared in their Form GSTR-1 (Zero rated supplies).
