GSTR-2B is a month-by-month auto-drafted statement introduced on the GST (Goods and Service Tax) portal for regular taxpayers. This statement will be available from August 2020 tax period. GSTR-2B is a timesaver for taxpayers as it makes tax filing easier, eases reconciliation, and enforces compliance.
GSTR-2B is an auto-drafted statement available for taxpayers on the Goods & Services Tax (GST) portal. What’s new about GSTR-2B is that it reflects the Input Tax Credit (ITC) for each month but remains constant even as the suppliers and vendors update their details in the next month(s).
Read on to know the benefits, how to claim Input Tax Credit and the steps to download GSTR-2B.
An auto-drafted statement, GSTR-2B, was launched on the GST portal beginning August 2020 onwards. The statement reflects both the eligible and ineligible ITC for the said period, remaining unchanged even as suppliers keep updating their details in the upcoming months. It means that whenever you access a GSTR-2B for a month, the details in it remain the same even as your suppliers keep updating the details for that period in later months.
You need to download it on the 14th of each month before filing the ITC claim. In other words, GSTR-2B for July 2022 will be generated on 14th August 2022 and will mention details from 14th July- 13th August 2022.
You can generate GSTR-2B using the input submitted by your suppliers in GSTR-1, GSTR-5, and GSTR-6 forms. The portal allows you to download GSTR-2B in both excel and PDF forms.
GSTR-2A and GSTR-2B both show Input Tax Credit for each month on a monthly basis. However, there are certain key distinctions between the two:
Here is a detailed guide on downloading GSTR-2B:
Step 1: Visit the GST portal (https://www.gst.gov.in/) and login using your credentials.
Step 2: Click on the ‘Services > Returns > Returns Dashboard’ tab.
Step 3: Once the Returns Dashboard appears, choose the Financial Year, the Return Filing Period and then click on the Search button.
Step 4: As different boxes appear, you can find the Auto-drafted ITC Statement (GSTR-2B) button amongst them. You can view or download the details as per your wish.
Step 5: Once you click the View button, you can view the Summary or All Tables.
Step 6: The Summary tab has two components: ITC available and ITC not available.
Step 7: The ITC ‘available’ part lists the inward supplies along with the applicable ITC.
Step 8: The ITC ‘not available’ part lists the inward supplies for which it has to be reversed or for which it cannot be claimed.
Step 9: Once you click the Download button, you get the option to download the statement in JSON (single sheet) or Excel (multiple sheets) format.
Step 10: If you want to know the cut-off dates, click on the View Advisory button. It lists all the necessary details and you can also download it.
Step 11: You can sort the ITC information on the All Tables tab as per the GSTR-2B tables, such as B2BA, B2B CDNR, B2B, ISD, IMPGSEZ ISDA, B2B CDNRA, and IMPG. One can also filter the details supplier-wise.
Follow these steps to claim for Input Tax Credit for a month in GSTR-2B:
The auto-drafted statement in GSTR-2B in GST helps in calculating the ITC claims, thereby simplifying the ITC filing process.
It specifies whether an ITC is available for the claim or not. (ITC is unavailable in cases when the time to avail it on an invoice expires either before 30th September of the following financial year or before the filing date for the annual return. It is also unavailable when the supplier’s GSTIN and the place of supply are in the same state and the recipient is in another state.)
GSTR-2B in GST lists only those invoices against which returns have been filed. Its static nature ensures that you can check if you have claimed ITC for the given invoices so that you can avoid claiming it again.
GSTR-2B is the most necessary document for a seller to claim ITC for a month. It helps the seller in identifying the defaulting suppliers and keeping a consistent track of the given invoices.
Ans: The GSTR-2B form helps you identify which ITC is available for the claim and which ITC isn’t available for the claim.
Ans: The difference between GSTR-2A and GSTR-2B is that, GSTR-2B is static and GSTR-2A is dynamic. The details in GSTR-2B remain unchanged even as suppliers update new documents for a period in later months. The details in GSTR-2A keep getting updated as suppliers update new documents for a period in later months.
Ans: From August 2020 onwards, you should refer to GSTR-2A for GSTR-3B preparation as it is static and unchanged.
Ans: No one can make adjustments to GSTR-2B as it is a static form. The details in it remain unchanged even as the suppliers may be uploading invoices for the said period in consequent months.
Ans: As the Government of India has ended the Provisional ITC program, no company can claim more ITC than stated in the GSTR-2B form. The Provisional ITC program allowed taxpayers to claim 5% provisional ITC on qualified ITC.
This article is solely for educational purposes. Navi doesn't take any responsibility for the information or claims made in the blog.
|Section 194IB||Section 44AA||Section 80E|
|Section 195||Section 80EEA||Section 80DD|
|Section 80CCC||Section 80GG||Section 80 G|
|Section 54F||Section 1941A||Section 10|
|Section 194Q||Section 192||Section 269SS|
|Section 80DDB||Section 44AD||Section 194C|
|Section 194A||Section 194H||Section 80D|
|Section 80C||Section 80C, 24(b), 80EE & 80EEA||Section 234A|
|Section 50C||Section 80C||Section 80EEA|
|Section 194B||Section 194J||Section 206C|
|Section 80CCG||Section 80 EEB||Section 24Q|
|Section 40b||Section 194C||Section 54EC|
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