All About GSTR 2B in GST Returns

 All about GSTR 2B

“GSTR 2B will help the government as well as the assessees in matching the input and output of ITC in forms GSTR 3B, GSTR-1, and GSTR 2A, accordingly.”

The main feature of the new form GSTR 2B return is that it will be generated monthly, just like the other GST return filing forms. A PDF and email feature is also added to the form for the ease of assessee. The form will show whether ITC is available to the assessee or not. The form will summarise the ITC credits attached with GSTR 3B.

The assessee can download the form in PDF or EXCEL file form anytime he wants. The advance search and filter option in the form will also help the assessee to view documents beyond 1,000 records.

GSTR-2B will be available from July 2020 onwards. It can be generated by recipient taxpayers once a month on the 12th for the previous month. For instance: GSTR 2B for July 2020 can be accessed on 12th August 2020.

The timelines for the generation of GSTR-2B can be checked out on the government portal under the ‘View Advisory’ tab.

GSTR 2A v/s GSTR 2B:

Comparison Basis	GSTR-2A	GSTR-2B
Kind of Statement	Progressive, as this changes from day to day, as and if the supplier uploads the documents.	Remains static or constant, as the GSTR-2B for one month cannot modify based on future operations of the supplier.
Accessibility of Frequency	Monthly	Monthly
Information Source	GSTR-1, GSTR-5, GSTR-6, GSTR-7, GSTR-8	GSTR-1, GSTR-5, GSTR-6, ICEGATE system
Input Tax Credit on Import of Goods	Does not carry these facts	Accommodates ITC on import of goods as obtained from ICEGATE system (available from GSTR-2B of August 2020 onwards)

How to access GSTR-2B on the GST portal?

The following are the steps to access GSTR 2B, mostly available from 12th August 2020:

Step 1: Log in to the GST portal.

Taxpayer must use his/her credentials to login.

Step 2: Navigate to the ‘Returns Dashboard’.

Step 3: Select the relevant tax period.

Select the month and year.

Step 4: Click on the ‘GSTR-2B’ tab.

Step 5: Click on the ‘Download’ button to save the statement on your system.

 

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