CBIC Amends Threshold for B2C Inter-State Supplies Reporting to ₹1 Lakh

By: Admin July 11, 2024 Categories: 53rd GST Council Meet | Notification & Circular

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Background

In the 53rd GST Council meeting held on June 22, 2024, it was recommended to reduce the threshold for reporting B2C inter-state supplies invoice-wise in Table 5 of FORM GSTR-1 from ₹2.5 lakh to ₹1 lakh.

Notification

Following this recommendation, the CBIC issued Notification No. 12/2024 – Central Tax dated July 10, 2024. This notification, under the powers conferred by Section 164 of the CGST Act, reduces the threshold for furnishing details of outward supplies of goods or services or both in Table 5 of FORM GSTR-1 made to unregistered persons for each rate of tax from ₹2.5 lakh to ₹1 lakh, effective August 1, 2024.

Effect of the Notification

From August 1, 2024, registered taxpayers must report B2C inter-state supplies invoice-wise in Table 5 of FORM GSTR-1 for invoices valued more than ₹1 lakh. This change aims to enhance transparency and compliance in GST reporting.

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