What is difference Gstr-2A and 2B?
The GSTR-2A is a dynamic statement that gets updated whenever a taxpayer's suppliers file their GST return of outward supplies. On the other hand, the GSTR-2B is a static statement containing details of input tax credit only for a particular return period.18-Apr-2022
It provides a detailed and lucid representation of ITC that is both available or unavailable for each document, such as an invoice furnished by the suppliers. This is a statement of ITC – taxpayers are not required to file GSTR 2B legally. Hence there is no such thing as GSTR 2B last date.
Who needs Gstr 2B?
GSTR2B shall be available to all the regular 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.
2022, a registered person shall be able to avail ITC in respect of only those invoices or debit notes the details of which have been furnished by the supplier in their GSTR-1/IFF and appearing in GSTR-2B. 2.Guidance Note-Claim of ITC as per GSTR 2B.
Which ITC claim in Gstr 2A or 2B?
As per the sub-rule (4) inserted in rule 36 of the Central Goods and Service Tax Rules, a taxpayer filing GSTR-3B can claim input tax credit only to the extent of the eligible credit available in GSTR-2B. Until 31st December 2021, this was 105% of the ITC in GSTR-2B/GSTR-2A between 1st Jan 21 up to 31st Dec 21).23-Feb-2022
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).
What is Gstr 3B and Gstr 2B?
Understanding the basics of Form GSTR-3B and Form GSTR-2B – Form GSTR-3B is a self-declaration statement that contains details of inward and outward supplies; input tax credit availed; output tax payable; output tax paid and such other particulars.
It is noticed by the RTP'S that ITC of April 2022 is not reflecting in GSTR 2B for April 2022 despite filing of GSTR1 within due date by supplier. It is to be noted that w.e.f 1st January 2022 ITC can only be availed by the RTP if the same is being reflected in GSTR 2B only and not on the basis of GSTR 2A.16-May-2022
How does Gstr 2B compare with tally?
1. Go to Gateway of Tally > Display > Statutory Reports > GST > GSTR-2. 2. Click U: Status Reconciliation.
For example, for April 2022 GSTR 2B, invoices from GSTR-1s filed between 12th April 2022 to 11th May 2022 were to be considered. And GSTR-2B was supposed to be generated on 12th May 2022.18-Jun-2022
What is 2A and 2B?
Form GSTR 2A is a purchase-related dynamic tax return that is automatically generated for each business by the GST portal and Form 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.31-Jul-2021
You don't have to file GSTR-2A. GSTR-2A is a read-only document with a list of all of the invoices from the various sellers during the month.23-Feb-2022
How do you reconcile Gstr-2B with books?
Reconciling GSTR-2B
Distinction between Form GSTR-2A and Form GSTR-2B Form GSTR-2A is a form of a dynamic statement. The details of inward supplies vis-à-vis input tax credit will be updated on a continuous basis. On the other hand, Form GSTR-2B is a form of a static statement. The details will be updated on a constant basis.
Who is filing Gstr 3B?
Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services Tax (GST). The GSTR 3B is a simple tax return form introduced by the Central Board of Excise and Customs (CBEC) for the month of July and August.16-Nov-2017
GSTR-2A will now display details of import of goods Release ID: 1649521 - (29/08/2020) - Two new tables have been inserted in GSTR-2A for displaying details of import of goods from overseas and inward supplies made from SEZ units / SEZ developers.
What is Gstr 1/2A and 3B?
• GSTR 3B is a summary return with revenue. implication. • GSTR 1 is a monthly/quarterly return with. invoice-wise outward supply details. • GSTR 2A is an auto-populated return.
Under the system of GSTR-1 and GSTR-3B, the tax credit is claimed by the recipient based on the sales invoices uploaded by the seller/supplier. The provisional credit (without invoice upload) is allowed only to the extent of 5% of ITC in GSTR-2B (earlier GSTR-2A).12-Jan-2022
How much ITC can be claimed?
According to the new rule, “20 per cent” ITC for non-invoice returns is now replaced with “10 per cent” ITC, effective from the 1st January, 2020. It means, from 1st January 2020, only 10% ITC shall be available to those taxpayers who fail to upload related invoices on the portal. Earlier this amount was capped at 20%.15-Feb-2022
In the 2nd step of GSTR 2B reconciliation, you may upload your Purchase Register directly into GSTZen using Tally or Excel format.
What is Gstr 2B in Tally?
GSTR-2B is an auto-populated return containing information about your B2B purchases. It is generated for you every month by GSTN based on the invoices filed in the returns by your suppliers (through GSTR-1/5/6).
What is difference Gstr-2A and 2B?