New GSTR-1 Update: GSTN enables Auto HSN Summary Import from E-Invoices for Efficient Filing

New GSTR-1 Update: GSTN enables Auto HSN Summary Import from E-Invoices for Efficient Filing

In a recent update to the GSTR-1 filing system, a new functionality has been added to “Table 12 – HSN wise summary of outward supplies” specifically aimed at taxpayers who generate e-invoices. This new feature enables taxpayers to directly transfer HSN (Harmonized System of Nomenclature) data from their e-invoices to their GSTR-1 form. The purpose of this enhancement is to simplify the return filing process by minimizing manual data entry requirements. Taxpayers utilizing e-invoicing can now automatically populate the HSN summary in their GSTR-1 with pertinent information from their electronic invoices. This advancement is particularly advantageous for those engaged in B2B (Business-to-Business) transactions, as it significantly reduces the time needed for HSN data entry, eliminating the necessity for manual data input in transactions where e-invoices were generated.

Liked the post? Share this:
editor
editor@nyca.in
No Comments

Post A Comment

Disclaimer

We have taken all steps to ensure that the information on the website has been obtained from reliable sources and is accurate. However, this website is not intended to give legal, tax, accounting or other professional guidance. We recommend appropriate advice be taken prior to initiating action on specific issues.