The GST portal made GSTR-2B available in GST portal from August 2020. The GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient. The GSTR-2B based on the information furnished by their suppliers, in their respective Form GSTR-1 & GSTR-5 and Form GSTR-6 filed by ISD.
The taxpayers can now reconcile data generated in Form GSTR-2B, with their records and books of accounts. The taxpayers can use this reconciliation to file their Form GSTR 3B, and they can ensure that no ITC is taken twice, ITC is reversed as per law, & tax on reverse charge basis is paid.
The generated Form GSTR-2B consists of a summary of ITC available as on the date of its generation. It is divided into a credit that can be availed and credit that is to be reversed (Table 3). It also provides a summary of ITC not available and is divided into ITC not available and ITC reversal (Table 4).
The GSTR-2B is a static statement, generated once on 12th of the following month. It consists of all documents filed by suppliers or ISD in their Form GSTR-1, 5 & 6, between 00:00 hours on the 12th day of the preceding month to 23:59 hours, on the 11th day of the current month. Thus, the statement generated on 12th of August will contain data from 00:00 hours of 12th of July to 23:59 hours of 11th of August.
The details filed in GSTR-1, GSTR-5 & GSTR-6 by taxpayers would reflect in the next open GSTR-2B of the recipient irrespective of supplier’s/ISD’s date of filing. For example, if a supplier files a document INV-1 dated. 15.07.2020 on the 11th of August, it will get reflected in GSTR-2B of July (generated on 12.08.2020). If the document is filed on 12.082020, the document will be reflected in GSTR-2B of August (generated on 12.09.2020).
The GSTR-2b also contains information on imports of goods from the ICEGATE system, including data on imports from Special Economic Zones (SEZ) Units/Developers. This will be made available in GSTR-2B from 12.09.2020 onwards. The reverse charge credit on import of services is not part of this statement and needs to be entered by taxpayers manually in Table 4(A) (2) of FORM GSTR-3B.
Taxpayers can access their GSTR-2B under returns dashboard after logging to GST Portal. Then they can select the return period and then they have to choose GSTR-2B.
The taxpayers can view or download Summary Statement or Section wise details in excel or PDF format. The taxpayers can view supplier-wise summary or document-wise information. An email/SMS to the taxpayer will be sent, informing them about the generation of GSTR-2B.
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