GST Network enables functionality to help GST payers on ITC eligibility : 19-08-2020

GST Network on Tuesday said it has enabled a functionality to help GST payers know their input tax credit (ITC) eligibility in their Annual Return, making it more convenient to file GSTR-9. So far, the GST system used to compute eligible ITC NSE 0.73 % based on suppliers’ sales return GSTR-1, but the break-up at the invoice level was not provided.

Taxpayers used to raise a query on the computation of ITC.

In a statement, Goods and Services Tax Network (GSTN), which handles the technology backbone of GST, said that to bring the entire computation to taxpayers by way of showing each invoice filed by the suppliers and showing eligibility against each, this functionality has been developed.

“GSTN has rolled out an important functionality today which will help GST taxpayers know their exact eligibility of ITC flowing in their Annual Return and thereby filing the annual return, i.e. GSTR-9 more conveniently,” GSTN said in the statement.

For this functionality, a new tab ‘Download Table-8A details’ has been introduced on the GSTR-9 dashboard of the GST portal from Financial Year 2018-19 onwards, it added.

Source : PTI

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