GSTR 2B

In this artical, you will know about GSTR 2B, Contents, Contents of Form, Difference between GSTR 2A or GSTR 2B, Features, Benefits

What is GSTR 2B?

Generated based on GSTR 2B, GSTR 1, GSTR 5, and GSTR 6 is a static statement of ITC available to the taxpayer. It is filed by the recipient's counterparts before the 12th of the following month, for which the details are to be prepared. In simple words, taxpayers can check the available ITC through GSTR-2B against each elaborately equipped supplier and input service distributor (ISD) in their respective GST returns.

The following details are also included in GSTR-2B:

1. Import of goods from ICEGATE; And

2. SEZ. No inward supply of goods from

Contents of GSTR-2B

The GSTR-2B contains the following parts:

1. A statement showing the input tax credit (ITC) which can be claimed and which needs to be reversed.

2. Import details including imports from SEZ units and developers.

3. Section-wise advisory which describes what the taxpayer must do in GSTR-3B to avail ITC.

4. Supplier-wise summary descriptions can also be viewed and downloaded.

5. View and download document-wise details.

Content of Form GSTR-2B

1. Financial year

2. Tax Period

3. GSTIN

4. The legal name of the registered person and trade name, if any.

5. It is then bifurcated into 2 parts i.e. Goods/services on which ITC is available and goods/services on which ITC is not available.

How is GSTR-2B different from GSTR 2A?

Both the GSTR-2A and GSTR-2B forms are auto-draft statements that contain details of the purchase transaction, however, there are some fundamental differences between the two -

GSTR 2A	GSTR 2B
Invoice details reported by suppliers are included	Additional information such as ITC eligibility, return filing status, etc. are also available at the challan level
Data is reflected in real-time	Available only after 12th
Includes invoices of all counterparties - whether to be filled or not	Invoices belonging to those counterparties who have filed returns
This is a dynamic statement.	This is a static statement.

Features of GSTR-2B

• A taxpayer can view, sort, and filter the data at his convenience.

• Complete ITC details

• GSTR-2B Search and downloads in advance when the file contains more than 1,000 records

• Supplier wise summary

• The columns in GSTR-2B can be hidden and viewed according to the requirement of the taxpayer.

• Section-wise summary

Benefits of GSTR-2B

1. Like GSTR 2A, there will be no need to repeatedly download data from the previous month.

2. A clear picture of ITC is to be taken advantage of for the duration.

3. Matching of ITC ledger and invoice details uploaded by the supplier in GSTR 1 (Rule 36 (4)).

4. This new statement will help clarify whether sellers are compliant or non-compliant, and helps to determine vendor classification and payment terms.

Disclaimer: This article is intended for general consumption only. The information in the article was correct at the time of publication, but it is subject to change due to changes in government rules and regulations. The contents of the blog may not be copied unless prior permission is obtained.

You can check the ITC available in GSTR 2B with OneGST. Download the OneGST app now and verify your details. For any queries feel free to reach out to us on [phone]. You can sign up for our newspaper, in which we will keep you updated about GST.