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Experts say these changes will reduce reporting errors and boost GST compliance accuracy To ensure accuracy and consistency in GST compliance, GSTN has decided to implement phase III of mandatory HSN code reporting from next month. Experts say that this change will enable GSTN to compile more value-added reports concerning the use of inputs, input services, and their contribution to final production, besides curbing tax evasion.
This reporting has to be done in GSTR-1/1A. “After successful implementation of Phase-I & Phase-II now Phase-III regarding Table 12 of GSTR-1 & 1A is being implemented, from return period February 2025,” an advisory on the GST portal said. In this phase, manual entry of HSN codes has been replaced by selecting the correct HSN code from a given dropdown menu. Additionally, Table 12 has been divided into two tabs, namely B2B and B2C, to report these supplies separately.
Further, validation regarding the values of supplies and the associated tax amounts has also been introduced for both tabs of Table-12. However, during the initial period, these validations will remain in warning mode, meaning that failing the validation will not block the filing of GSTR-1 and GSTR-1A, the advisory said.
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