The implementation of the GST law in India has been prefaced with the narrative of national ambition and that of a global exception. The government has been striving to ease the overall GST framework for India Inc., by amending the reporting methodology to make GST a “Good and Simple Tax” so that only non-compliant assesses are questioned or held liable and the diligent ones are not affected.One such change has been recently notified by the government vide Notification No. 14/2022 – Central Tax dated July 5, 2022, in Table 4 of GSTR 3B, meant for Input Tax Credit (ITC) related information. The said changes have been made available on the GST portal since September 1, 2022. In brief, the government has majorly changed the following two aspects :
