New changes made in GSTR-1 from January 2025
When you file GSTR-1 on or before February 11, 2025, the specified new rules will have to be followed otherwise the return will be considered faulty. If the supplier's GSTR-1 is faulty then the buyer's GSTR-2B will get populated with wrong details.
The Goods and Services Tax Network (GSTN) has implemented multiple changes in Table 12 of GSTR-1 return starting from the January 2025 tax period. The deadline to file GSTR-1 for January 2025 tax period is February 11, 2025. This means on or before February 11, 2025 when you file GSTR-1 the specified new rules will have to be followed otherwise the return will be considered faulty. Needless to say, if the supplier's GSTR-1 is faulty then the buyer's GSTR-2B will get populated with wrong details.
Also, a buyer can't take input tax credit (ITC) on such faulty return and will thus have to wait for the seller to make the necessary corrections. The data inputted by sellers in their GSTR-1 return is populated in buyer's GSTR-2B form which is essentially an input tax credit statement.
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