GSTN Issues Advisory on Difference in Value of Table 8A and 8C of Annual Returns FY 23-24

The Goods and Services Tax Network (GSTN) has issued an advisory addressing discrepancies between the values reported in Table 8A and Table 8C of the annual returns for FY 2023-24. These tables contain data related to Input Tax Credit (ITC) and tax paid on the purchases. The advisory highlights issues that may arise when businesses report mismatched figures, urging taxpayers to reconcile discrepancies before filing their annual returns. GSTN recommends reviewing both the electronic and manual formats of returns, ensuring alignment with the correct tax credit claims and ensuring accurate reporting to avoid future penalties or scrutiny.