The 53rd meeting of the GST Council has recommended lowering the B2C Inter-State Invoice Reporting in table 5 of Form GSTR 1 threshold to Rs 1 Lakh. The meeting was chaired by Union Finance Minister Nirmala Sitharaman, took place today, June 22, 2024, in New Delhi.
The threshold was reduced from Rs. 2.5 Lakhs to Rs. 1 lakh. Taxpayers are required to report inter-state Business-to-Consumer (B2C) sale invoices, along with any amendments, in tables 5, 7B, 9, and 10 of GSTR-1. These details should also be reflected in the summary figures filed in GSTR-3B.
Similarly, sales made to composition dealers and Unique Identification Number (UIN) holders, including any amendments, must be filled in tables 4A, 4C, and 9 of GSTR-1. The reported values from these tables should be accurately referenced when filing GSTR-3B.
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The press release is as follows: “The threshold for reporting of B2C inter-State supplies invoice-wise in Table 5 of FORM GSTR-1 was recommended to be reduced from Rs 2.5 Lakh to Rs 1 Lakh.”
Taxable outward inter-state supplies to unregistered persons, commonly referred to as B2C supplies, require specific reporting when the invoice value exceeds Rs. 2.5 lakh. Detailed invoice-wise information for all supplies made to unregistered dealers must be accurately recorded in Table 5 of the GST return.
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