What is GSTR-2B?

a. It is an auto-drafted ITC statement generated for every registered person. It is a static statement available for each month on the 12thof the succeeding month.
b. GSTR-2B for a month (M) contains all documents filed by suppliers between the due date of furnishing of GSTR-1 for the previous month (M-1) to the due date of furnishing of GSTR-1 for the current month (M).

Benefits of GSTR- 2B

Repetitive download of the previous month data would not be required as in GSTR 2A.
A clear picture of ITC to be availed for the period.
Reconciliation of ITC ledger and invoice details uploaded in GSTR 1 by the supplier (Rule 36(4)).
This new statement would help clarify whether vendors are compliant or non-compliant, and helps in vendor categorization and determining payment terms.

What will GSTR 2B consist of?

Auto drafted Form GSTR-2B will consist of:

Table 3– A summary of ITC available as on 12th of the following month which will be bifurcated into
1- Credit that can be availed and
2-Credit that is to be reversed

Table 4– A summary of ITC not available as on 12th of the following month which will be bifurcated into
1- ITC not available and
2- ITC reversal

The contents of GSTR-2B is as follows:

1. Summary statement showing ITC available and non-available for every section.
2. Advisory for every section that clarifies the kind of action that taxpayers must take.
3. Document-wise details such as invoices, credit notes, debit notes, etc. to view and download.
4. Cut-off dates and advisory for generating and using GSTR-2B.
5. Import of goods and import from SEZ units/developers (available from GSTR 2B of August 2020 onwards).

Availability of GSTR-2B

GSTR-2B will be available from July 2020 onwards. It can be generated by recipient taxpayers once a month on the 12th for the previous month. For instance, GSTR 2B for July 2020 can be accessed on 12th August 2020.

Important: Please note that the information on this page / site is provided as general information for better understanding for the user and does not constitute tax, legal, or other professional advice and must not be used as such. Please consult your professional adviser(s) if you have any questions / doubts regarding the above.


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