GSTN to allow negative values in Table 3.1 of GSTR-3B

GSTN to allow negative values in Table 3.1 of GSTR-3B

As per highly placed sources, the portal will allow reporting negative values in Table 3.1 of GSTR-3B by the end of September 2020. The changes are currently in design mode.

It will be a welcome to change. It’s long-standing demand to allow full tax adjustment due to Credit Notes when such tax is on the excess of output tax during a month.

GSTN to allow negative values in Table 3.1 of GSTR-3B

You May Also Refer:

• GST – Cash Refund can be provided for Unutilized credit of cesses of erstwhile tax laws
• Banking company can avail ITC on the premium paid to DICGC
• Notice Issued to GST Commissioner for GST Tran-1 Issues
• TDS Payment Date is Date of presentation of Cheque with the bank – ITAT

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