GSTR 2B: Auto-drafted ITC Statement instructions

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GSTR-2B is a new auto-drafted statement or summary for regular taxpayers to see the (available ITC or not available ITC). And which is introduced on the GST portal. Currently, the return is available on the portal.

What is GSTR 2b?

GSTR-2B is a new auto-drafted statement or summary which provides eligible and ineligible Input Tax Credit (ITC) for each month similar to GSTR-2A but remains constant for a period. And which shall be available to all the regular taxpayers. And Every recipient can generate it on the GST Portal in pdf or excel format.

which is available on the basis of Returns GSTR-1, GSTR-5, and GSTR-6 furnished by their suppliers. The statement will clearly show document-wise details of ITC eligibility.

When will GSTR-2B be available?

It can be generated by recipient taxpayers once in a month on the 12th for the previous month. For instance, GSTR2B for July 2020 can be accessed on 12th August 2020. GSTR2B will be available from July 2020 on GST Portal to view and reconciliation.

How GSTR2b will be generated on GST Portal?

GSTR-2B will be generated automatically on GST Portal on the basis of all the GSTR-1s, 5s, and 6s being filed by your respective supplier. Generally, this date will be between the filing date of GSTR-1 for the previous month (M-1) to the filing date of GSTR-1 for the current month (M).

For example, GSTR-2B for the month of February will consist of all the documents filed by suppliers in their GSTR-1, 5, and 6 from 00:00 hours on 12th February to 23:59 hours on 11th March. It may be noted that for
import of goods, the data is being updated on a real-time basis.

therefore, imports made in the month (the month for which GSTR2B is being generated for) shall be made available. The dates for which the relevant data has been extracted is available under the “View Advisory” tab on the online portal.

How to view GSTR2B on the GST Portal?

As a Taxpayer, You can easily access or view your auto-drafted summary in the form GSTR 2B on the GST Portal online with the help of these steps-

  1. First of all, You have to visit the GST Portal online
  2. and after that have to log in with the help of login Id and Password.
  3. Then after login, you are to visit Return Dashboard.
  4. And then need to select relevant month and year and click on proceed.
  5. Then you will see a new form of GSTR 2B
  6. Now Just open it
  7. and then you will see live summary or can be downloaded by clicking excel format or pdf format download link.
GSTR 2A PDF DOWNLOAD
GSTR 2A PDF DOWNLOAD

Should I claim all GST input on the basis of GSTR 2B?

No, you should not claim input on the basis of input available in GSTR 2b. because it is only for view and there is no official notification to claim on the basis of GSTR 2b. You should take input on the basis of GSTR 2A because there will show certain month bills input only but in GSTR 2B showing more than certain bills. So you should try to reconcile first before taking input as per GSTR 2b. And should claim only for those particular bills which are received for a certain month.

How to know available ITC is ineligible in GSTR 2B?

According to the important advisory in GSTR 2B -Input tax credit shall be indicated to be non-available in the following scenarios: –

  1. Invoice or debit note for the supply of goods or services or both where the recipient is not entitled to an input tax credit as per the provisions of sub-section (4) of Section 16 of the CGST Act, 2017.
  2. Invoice or debit note where the Supplier (GSTIN) and place of supply are in the same State while the recipient is in another State.

However, there may be other scenarios for which input tax credit may not be available to the taxpayers and the same has not been generated by the system. Taxpayers, should self-assess and reverse such credit in their FORM GSTR-3B.

What are the benefits of the GSTR 2B form summary?

These are the benefits you can avail by using GSTR 2B summary such as-

  1. Bill wise summary of all inputs.
  2. Easy for reconciliation of GSTR 2A.
  3. Separate visibility of eligible input or ineligible input.
  4. The input tax credit is not availed twice against a particular document.
  5. The tax credit is reversed as per the GST law in their GSTR-3B, wherever required.
  6. GST is correctly paid on a reverse charge basis for the applicable documents, including the import of services.
  7. Easy access to input that can be taken for the month.

What are the features and instructions for GSTR 2B form?

1. As per GST portal, these are the instructions and features of GSTR 2B-GSTR-2B will be generated automatically on GST Portal on the basis of all the GSTR-1s, 5s, and 6s being filed by your respective supplier. Generally, this date will be between the filing date of GSTR-1 for the previous month (M-1) to the filing date of GSTR-1 for the current month (M).

For example, GSTR-2B for the month of February will consist of all the documents filed by suppliers in their GSTR-1, 5, and 6 from 00:00 hours on 12th February to 23:59 hours on 11th March. It may be noted that for import of goods, the data is being updated on a real-time basis, therefore, imports made in the month (the month for which GSTR-2B is being generated for) shall be made available. The dates for which the relevant data has been extracted is available under the “View Advisory” tab on the online portal.

2. It also contains information on imports of goods from the ICEGATE system including data on imports from Special Economic Zones Units / Developers.

3. It may be noted that reverse charge credit on import of services is not part of this statement and will be continued to be entered by taxpayers in Table 4(A)(2) of FORM GSTR-3B

4. Table 3 captures the summary of ITC available as on the date of generation of FORM GSTR-2B. It is divided into the following two parts:
A. Part A captures the summary of credit that may be availed in relevant tables of FORM GSTR-3B.
B. Part B captures the summary of credit that shall be reversed in the relevant table of FORM GSTR-3B.

5. Table 4 captures the summary of ITC not available as on the date of generation of FORM GSTR-2B. Credit available in this table shall not be availed as a credit in FORM GSTR-3B. However, the liability to pay tax on reverse charge basis and the liability to reverse credit on receipt of credit notes continues for such supplies.

6. Details of invoices, credit notes, debit notes, ISD invoices, ISD credit and debit notes, bill of entries, etc. will also be made available online and through download facility.

7. There may be scenarios where a percentage of the applicable rate of tax rate may be notified by the Government. A separate column will be provided for invoices/documents where such a rate is applicable.

8. Taxpayers are advised to ensure that the data generated in FORM GSTR-2B is reconciled with their own records and books of accounts. Taxpayers shall ensure that

a. No credit shall be taken twice for any document under any circumstances.
b. Credit shall be reversed wherever necessary.
c. Tax on reverse charge basis shall be paid.

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