Implementation of New Tables 14 & 15 in GSTR-1 for E-commerce Transactions
Introduction: In accordance with Notification No. 26/2022 – Central Tax dated 26th December 2022, the Goods and Services Tax (GST) framework has undergone a significant update. The introduction of Tables 14 and 15 in the GSTR-1 aims to facilitate the comprehensive reporting of supplies conducted through e-commerce operators (ECO). These tables are specifically designed to capture details related to transactions on which e-commerce operators bear the responsibility of tax collection under Section 52 of the Act or are obligated to pay tax under Section 9(5).
Activation on GST Common Portal: We are pleased to announce that Tables 14 and 15 are now live on the GST common portal. This development is pivotal for businesses engaged in e-commerce, as it enhances the accuracy and transparency of reporting obligations.
Commencement from January 2024 Tax Period: Starting from the January 2024 tax period, businesses are required to utilize Tables 14 and 15 for reporting relevant information in their GSTR-1/IFF filings. This implementation is a crucial step towards aligning with the evolving landscape of e-commerce transactions and ensuring compliance with the updated statutory provisions.
Advisory Details: For a comprehensive understanding of the reporting requirements and guidelines associated with the new Tables 14 and 15, we encourage you to refer to the complete advisory. Click [here] to access the detailed advisory, which provides insights into the practical aspects of compliance.
As we navigate these regulatory changes together, we remain committed to supporting businesses in adapting to the evolving GST landscape. For any queries or further clarification, please feel free to reach out to our dedicated support channels.
