GST News

reversal of ITC on selling of capital goods

New Returns RET 1 , ANX-1,ANX-2 Changes

Please refer to

Brief changes summed up as follows:

  • HSN number will be 6 digits compulsory
  • In case of RCM from Unregistered dealer PAN is must.
  • Purchase return ANX-2 will be auto-populated
  • If customer accepts the purchase bill it will be locked and supplier cannot make changes. Recipient has the option of Reject-keep pending the purch bill in auto-populated ANX-2. If not opted Accepted presumed.