GSTN Issues Advisory on Reporting Supplies to Unregistered Dealers in GSTR-1 and GSTR-5

By: Admin
Date: September 04, 2024
Categories: GST Portal Updates | Important News
Read Time: 4 Min

GSTN Advisory on Reporting Supplies to Unregistered Dealers

On September 3, 2024, the Goods and Services Tax Network (GSTN) released Advisory No. 518. This advisory addresses the reporting requirements for supplies to unregistered dealers in GSTR-1 and GSTR-5.

Key Changes

Threshold Limit Reduction:

According to Notification No. 12/2024 – Central Tax, dated July 10, 2024, the government has reduced the threshold limit for reporting invoice-wise details. Previously set at ₹2.5 lakh, the new threshold is ₹1 lakh. Taxpayers must now report these details in Table 5 of Form GSTR-1 and Table 6 of Form GSTR-5.

Portal Update Pending:

GSTN has indicated that the portal update to reflect this change is still in development. The updated functionality will be available to taxpayers soon.

Interim Reporting Instructions:

Until the portal updates, taxpayers should continue reporting invoice-wise details for supplies exceeding ₹2.5 lakh in Table 5 of Form GSTR-1 and Table 6 of Form GSTR-5.

Conclusion

This advisory helps taxpayers navigate the transition period until the new threshold is implemented on the portal. It ensures compliance with the updated reporting requirements.

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