The Goods and Services Tax Network (GSTN) has introduced Phase III changes in HSN reporting for GSTR-1 and GSTR-1A, applicable from the January 2025 return filing period.
🔎 Key Changes Introduced
• HSN codes must now be selected from a drop-down list – manual entry will no longer be allowed.
• Table 12 has been split into two sections:
- B2B supplies
- B2C supplies
• This enables separate and more accurate reporting of HSN-wise summary.
âš™ Additional Validations
• New validation checks are introduced for taxable value and tax amounts.
• Initially, these validations will run in warning mode, allowing taxpayers to proceed with filing while highlighting possible mismatches.
• Over time, these validations are expected to improve accuracy and standardize HSN reporting in GST returns.
📄 Read the full advisory:
https://lnkd.in/g9SsN9V2
Stay updated. Stay compliant. ✅