gstr-2b
What is GSTR-2B?
GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement that provides eligible and ineligible ITC details for a specific tax period. It is generated on the 14th of every month based on the details furnished by suppliers in their GSTR-1, GSTR-5. And GSTR-6 returns. This process involves GSTR- B. This process involves GSTR- B.
Features of GSTR-2B
- It is a static statement, meaning it remains unchanged once generated for a month.
- It clearly segregates eligible and ineligible Input Tax Credit (ITC) based on the information provided by suppliers.
- It helps taxpayers ensure they do not claim excess ITC and reduces the chances of receiving notices from the GST department.
Difference Between GSTR-2A and GSTR-2B
While both are auto-populated statements, GSTR-2A is dynamic and changes whenever a supplier uploads a document, whereas GSTR-2B is static and gets locked on a specific cutoff date (usually the 14th of the following month). Taxpayers must use GSTR-2B to claim their monthly ITC in GSTR-3B.
For more detailed assistance, explore our professional tax services or check official updates on the Income Tax Department website.
Frequently Asked Questions
Everything you need to know about gstr-2b and tax compliance.
Yes. The GSTR-2A is a dynamic statement that gets updated whenever a taxpayer’s suppliers file their GST return of outward supplies.
On the other hand, the GSTR-2B is a static statement containing details of input tax credit only for a particular return period. This helps taxpayers with identifying the exact input tax credit for the said return period. Further, the GSTR-2B contains section-wise advisories indicating what actions taxpayers need to take in their GSTR-3B.
For GSTR-3B preparation from August 2020 onwards, taxpayers must refer to the GSTR-2B which is a static version of the GSTR-2A.
To match your purchase register and GSTR-2B in less than a minute, try India’s fastest and most advanced 2B matching tool here.
You may also use the offline tool available for download on the GST portal.