Everything About GSTR 2B

A new facility GSTR 2B is made available to Taxpayers. GSTR 2B will consist of an auto- drafted Input Tax Credit (ITC) statement generated on the basis of returns submitted by the suppliers. GSTR 2B will also consist of information from ICEGATE about the import of goods from foreign suppliers as well as it will contain information of inward supplies from Special Economic Zones (This feature will be made available soon).

GSTR 2B will be made available on 12th of next month. For example, GSTR 2B for the Month of August 2020 will be available on 12th of September 2020.

The details filed by the supplier in GSTR 1, GSTR 5 & GSTR 6 between 12th of the month till 11th of next month will be automatically populated on the 12th of Next month.

There is a confusion in taxpayers that whether to use GSTR 2A or GSTR 2B. GSTR 2B will not change unlike GSTR 2A, which may change over a period of time because of late filing by suppliers or amendments made by the supplier. Therefore, taxpayers are advised to refer GSTR 2B for availing ITC in GSTR 3B. For further information they can refer GSTR 2A.

There is no legal requirement to make reconciliation between GSTR 2A & GSTR 2B. Hence Taxpayers are only advised to see GSTR 2B and can also determine which supplier are not filing return on time for them to avail ITC.

-Akash Girish Doshi