CA Surjeet Singh Negi
GsTN has enabled Form GSTR 2B in the GST Portal. GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis of the information furnished by their suppliers, in their respective Form GSTR-1 (filed by regular taxpayers), GSTR-5 (filed by Non-Resident taxable person) and GSTR-6 (filed by ISD).
Salient features :
|Basis of comparison||GSTR-2A||GSTR-2B|
|Dynamic vs Static statement||Dynamic statement, since the same is updated on timely basis, whenever the supplier uploads the documents||Static statement, since the same is generated on 12th of next month and not impacted due to later changes by supplier|
|Source of information||GSTR-1, 5, 6,7, 8||GSTR-1, 5,6, ICEGATE system|
|ITC on import of goods||RCM on import of goods is not reflected in GSTR-2A||RCM on import of goods is reflected in GSTR-2B basis the data fetched from ICEGATE system|
Note : As per the attached press note issued by CBIC dated 29 August 2020, it has been recommended to refer to GSTR-2B for the month of July 2020 only for feedback purpose.
GSTN Advisory is as follows:-
ITC Statement Form GSTR-2B, made available on GST Portal for taxpayers
1. GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis of the information furnished by their suppliers, in their respective Form GSTR-1 & 5 and Form GSTR-6 filed by ISD.
2. Taxpayers can now reconcile data generated in Form GSTR-2B, with their own records and books of accounts. Using this reconciliation, they can now file their Form GSTR 3B and they can ensure that
3. Generated Form GSTR-2B consists of:
4. It is a static statement, generated once on 12th of following month.
5. It also contains information on imports of goods from the ICEGATE system including data on imports from Special Economic Zones Units / Developers. (This will be made available in GSTR-2B from 12th September 2020 onwards). Reverse charge credit on import of services is not part of this statement and need to be entered by taxpayers in Table 4(A) (2) of FORM GSTR-3B.
6. Steps to Download: Taxpayers can access their GSTR-2B through: Login to GST Portal > Returns Dashboard > Select Return period > GSTR-2B.
7. Important features: Taxpayers can
I hope you find this update useful and should you wish to enquire about any issue regarding GST law, please feel free to contact me @ [email protected]