The Goods and Services Tax Network ( GSTN ) has rolled out a new functionality that streamlines tax reporting for businesses. This development comes in the form of an automated process for populating the HSN-wise summary directly from e-Invoices into Table 12 of the GSTR-1, enhancing efficiency and accuracy in tax compliance.
The newly introduced feature by GSTN simplifies the reporting process by automatically populating the HSN-wise summary from e-Invoices into Table 12 of the GSTR-1. Taxpayers can now benefit from the direct auto-drafting of HSN data into Table 12, leveraging e-Invoice data to ensure accuracy and reduce manual data entry efforts. While the auto-populated HSN-wise summary in Table 12 offers convenience, taxpayers are advised to conduct thorough reconciliation with their records to validate the accuracy of the data before final submission.
Manual Corrections: In cases where discrepancies or errors are identified, taxpayers are advised to manually correct or add the necessary information in Table 12 prior to the final submission to ensure compliance with regulatory requirements.
The GSTN Advisory reads as follows:
“Advisory: Auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1
09/04/2024
Dear Taxpayers,
1. GSTN is pleased to inform that a new feature to auto-populate the HSN-wise summary from e-Invoices into Table 12 of GSTR-1 is now available on the GST portal. This allows for direct auto-drafting of HSN data into Table 12 based on e-Invoice data.
2. Please note that the HSN-wise summary data auto-populated into Table 12 is intended for your convenience. Please ensure that you reconcile the data with your records before its final submission.
3. Any discrepancies or errors should be manually corrected or added in Table 12 before final submission.
Thanking you,
Team GSTN”
The introduction of the auto-population feature for HSN-wise summary data from e-Invoices into Table 12 of the GSTR-1 marks a significant step towards simplifying tax compliance and enhancing reporting accuracy for businesses.
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