Big Breaking: Government Plans To Amend GSTR-3B To Stop Bogus ITC Claims

The monthly tax payment form GSTR-3B is all set to be amended to check fraudulent Input Tax Credit (ITC) claims and speedy disposal of genuine cases. An official said that this could be considered in the meeting of the GST Council to be held next month.

The revised form will provide clarity to the taxpayer with respect to gross ITC, amount claimed in a particular month and balance in the books of the taxpayer. The official said that with the help of the revised form, fake ITC claims will not only be checked but honest taxpayers will get the benefit of ITC faster.

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