Goods and Service Tax Network launched auto drafted ITC Statement Form GSTR-2B. GSTR-2B will help in determining amount of eligible credit to some extent. GSTR-2B will be generated for every taxpayer, on the basis of the information furnished by their suppliers, in their respective Form GSTR-1 (return of outward supply) & GSTR-5 (non-resident taxable person) and Form GSTR-6 (input service distributor)) filed by ISD.
What is GSTR-2B ? What GSTR-2B will contain? When GSTR-2B will be generated?
GSTR-2B is an auto-drafted ITC statement which is generated for every normal taxpayer on the basis of the information furnished by his suppliers in their respective GSTR-1/IFF, GSTR-5 (non-resident taxable person) and GSTR-6 (input service distributor). The statement indicates availability and non-availability of input tax credit to the taxpayer against each document filed by his supplier.
- It consists of all documents filed by suppliers/ISD in their Form GSTR-1, 5 & 6, between 00:00 hours on 12th day of preceding month to 23:59 hours, on 11th day of current month. Below are the examples for better understanding of GSTR-2B
| Month | GSTR-2B Generation Date |
Data in GSTR-2B |
| Jul-20 | 12/08/2020 | Invoices/Documents filed by suppliers between 12/07/2020 to 11/08/2020 in their their Form GSTR-1, GSTR-5 & GSTR-6 |
| Aug-20 | 12/09/2020 | Invoices/Documents filed by suppliers between 12/08/2020 to 11/09/2020 in their their Form GSTR-1, GSTR-5 & GSTR-6 |
| Sep-20 | 12/10/2020 | Invoices/Documents filed by suppliers between 12/09/2020 to 11/10/2020 in their their Form GSTR-1, GSTR-5 & GSTR-6 |
- The details filed in GSTR-1 & 5 (by supplier) & GSTR-6 (by ISD) would reflect in the next open GSTR-2B of the recipient irrespective of supplier’s/ISD’s date of filing. Below are the examples for better understanding of the cycle
| Invoice Date |
Due date of Filing the invoice by supplier |
Actual
Date of filing GSTR1 by supplier
|
Reflected in GSTR-2B of |
| 12/07/2020 | on or before 11/08/2020 | on or before 11/08/2020 | Jul-20 |
| 12/07/2020 | on or before 11/08/2020 |
Between 12/08/2020 to 11/09/2020 |
Aug-20 |
| 12/07/2020 | on or before 11/08/2020 | After 12/09/2020 | Sep-20 |
The auto-drafted GSTR-2B will also contain information on import of goods from the ICEGATE system including inward supplies of goods received from Special Economic Zones Units/Developers. It will also have a summary statement which shows all the ITC available and non-available under each section.
With the introduction of GSTR-2B it is very important that every supplier should file GSTR-1, 5 & 6, as the case may be on or before due date, so that everyone who are eligible can take credit on time.
FORM GSTR-2B generation cutoff date revised i.e 13th of day of current month
It may be noted that process of GSTR-2B generation starts after ending of IFF, GSTR-5 and GSTR-6 due date on 13th midnight and therefore GSTR-2B can be made available to the taxpayer in the afternoon of 14th of the month. Further, GSTR-2B is a static statement and is made available for each month on the 14th day of the succeeding month