GSTR-2B is a new static month-wise auto-drafted statement for regular taxpayers (whether or not opted into the QRMP scheme) introduced on the GST portal. The statement was launched from the August 2020 tax period onwards.
Introduction to GSTR-2B
GSTR-2B provides eligible and ineligible Input Tax Credit (ITC) for each month, similar to GSTR-2A but remains constant or unchanged for a period. In other words, whenever a GSTR-2B for a month is accessed on the GST portal, the data in it remains the same without being changed for subsequent changes by their suppliers in later months.
GSTR-2B is available to all normal, SEZ and casual taxpayers. Every recipient can generate it on the basis of the GSTR-1, GSTR-5 and GSTR-6 furnished by their suppliers.
The statement will clearly show document-wise details of ITC eligibility. ITC information will be covered from the filing date of GSTR-1 for the preceding month (M-1) up to the filing date of GSTR-1 for the current month (M).
For instance, GSTR-2B generated for July 2023 will contain documents filed by their suppliers from 12 a.m. on 14th July 2023 up to 11:59 p.m. on 13th August 2023. The statement for July 2023 will be generated on 14th August 2023.
Importance and benefits of GSTR-2B
The data in GSTR-2B is reported in a manner that allows taxpayers to conveniently reconcile ITC with their own books of accounts and records. It will help them in easier identification of documents to ensure the following:
- The input tax credit is not availed twice against a particular document.
- The tax credit is reversed as per the GST law in their GSTR-3B, wherever required.
- GST is correctly paid on a reverse charge basis for the applicable documents, including import of services.
- The statement indicates the respective tables or columns of GSTR-3B under which the input tax credit of an invoice/debit note must be taken.
When was GSTR-2B made available?
GSTR-2B has been made available from August 2020 onwards. Until January 2021, it could be generated by recipient taxpayers once a month on the 12th of the month next to the tax period.
For instance, GSTR 2B for August 2023 can be accessed on 12th September 2023.
From January 2021 onwards, taxpayers can generate the GSTR-2B on or after the 14th of every month for a tax period. For instance, GSTR 2B for October 2023 can be accessed on 14th November 2023.
The timelines for the generation of GSTR-2B can be checked out on the government portal under the ‘View Advisory’ tab.
