ITC STATEMENT FORM GSTR-2B, MADE AVAILABLE FOR TAXPAYER

GSTR-2B will be generated on GST portal for every registered person on the basis of the information furnished by his suppliers and will be made available for each month, on the 12th day of the succeeding month, GSTN said in a statement.

 

Goods and Service Tax Network (GSTN), the information technology backbone provider for GST introduced new return filing form which has auto-populated input tax credit.

The new form - GSTR-2B has been launched on the GST Portal from July 2020 onwards. It is not a Return but a static report of GSTR2A of invoices uploaded by supplier uptil 11th of the subsequent month.
Thus it’s similar to GSTR-2A with some exceptions.

"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," GSTN said in a statement Saturday.

The GSTR-2B will contain information on import of goods from the ICEGATE system, will have summary statement on all the ITC available and non-available under each section and have document level details of all invoices, credit notes, debit notes etc.

GSTR-2B will be generated for every registered person on the basis of information furnished by his suppliers in their respective GSTR-1, GSTR-5 (non-resident taxable person) and GSTR-6 (input service distributor).

 

Key features of GSTR-2B: It is an auto-populated static ITC statement which will clearly show ITC available and not available for every invoice monthly. It will be updated once a month on 12th of every succeeding month. For example, GSTR-2B generated on 12th September 2020 shall contain invoices uploaded and filed by suppliers between 12th August 2020 to 11th September 2020.


However, GSTN has clarified that GSTR-2B for the month of July has been made available on the common portal on trial basis, and feedback has been sought from taxpayers. GSTR-2B provides an option to search invoice and to request statement over an e-mail.

 GSTR-2B also contains info on _Imports from other countries and SEZ’s. Invoices will be marked as _ITC Not Available in two cases:

A. If the supplier files the invoice after 30th September of succeeding year of invoice i.e. Section 16(4). B. If POS is different from the recipient state.

 

·         Comparison of GSTR-2A with GSR-2B

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
Periodicity	Monthly	Monthly
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

Meanwhile, two new tables have been inserted in GSTR-2A for displaying details of import of goods from overseas and inward supplies made from special economic zones (SEZ) units or developers.

The insertion will enable taxpayers to self-reconcile the taxes paid and the taxes reflected in the syst tem online. taxpayers can view their bill of entries data which is received by the GST System (GSTN) from ICEGATE System (Customs). This has been enabled on trial basis for feedback.