The GST Council, in its 39th meeting held on 14th March 2020, had recommended to adopt and implement the incremental approach of linking the present system of filing of GSTR-3B and GSTR-1 and other significant changes like enhancements in GSTR-2A and its linking to GSTR-3B. One such enhancement that the Council recommended was introduction of an auto-drafted input tax credit (ITC) statement which would aid in assisting / determining the input tax credit that is available for every taxpayer.
GSTR-2B:GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor). It is a static statement and will be made available for each month, on the 12th day of the succeeding month.
Objective behind launching GSTR-2B:
It is expected that GSTR-2B will help in:
– reduction in time taken for preparing return,
– minimising errors,
– assist reconciliation,
– simplify compliance relating to filing of returns.
GSTR-2B will have ITC information extracted from the filing date of GSTR-1 for the preceding month up to the filing date of GSTR-1 for the current month. For instance, GSTR-2B generated for September 2020 will contain details filed by their suppliers from 12th September 2020 to 11th October 2020. The statement for September will be generated on 12th October.
Key features in GSTR-2B
- It contains information on import of goods from the ICEGATE system including inward supplies of goods received from Special Economic Zones Units/Developers.
- A summary statement which shows all the ITC available and non-available under each section. The advisory given against each section clarifies the action to be taken by the taxpayers in their respective section of GSTR-3B;
- Document level details of all invoices, credit notes, debit notes etc. is also provided both for viewing and download.
Difference between GSTR-2A and GSTR-2B
The major difference between the two is that GSTR-2A is a dynamic statement which keeps changing day to day as and when the supplier uploads the documents whereas GSTR-2B is a static statement which doesn’t change as per the future actions of the supplier.
GSTR-2A doesn’t carry any data about input tax credit on Import of Goods whereas GSTR-2B accommodates ITC on import of goods as obtained from ICEGATE system.