What is the difference 2A and 2B?
When filing GSTR-3B and GSTR-9 as a GST registered buyer, you can resort to the GSTR-2A for input tax credit details. GSTR-2B is a new static month-by-month auto-drafted statement introduced on the GST portal for regular taxpayers (whether or not they have opted into the QRMP programme).13-Apr-2022
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
What is Gstr 2B?
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).
Limit on ITC availment under Rule 36(4) – The purpose of GSTR 2B is to ensure compliance with Rule 36(4). Once GSTR 2B is made mandatory, availment of ITC by a Tax payer for invoices not uploaded by Vendors cannot exceed by more than 10%, the Input Tax Credit for invoices uploaded by Vendors in their GSTR 1 Returns.
Can we take ITC as per 2A?
The matching of ITC should be done as per GSTR-2B and not GSTR-2A in terms of Rule 36(4). 6. Such amendment made effective w.e.f. 01.01. 2022 shall apply to all the ITC taken on or after 01.01.Guidance Note-Claim of ITC as per GSTR 2B.
Form GSTR-2A is a system generated Statement of Inward Supplies for a recipient. Form GSTR-2A will be generated in below scenarios: When the supplier uploads the B2B transaction details in their Form GSTR-1 / 5. ISD details will be auto-populated on submission of Form GSTR-6 by their Input Service Distributor.
How can I get Gstr 2B full year?
Navigate to Services> Returns > Returns Dashboard > File Returns > GSTR 2B Tile to view and download Form GSTR-2B statement of a tax period.
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.
How do I reconcile my Gstr 2B?
GSTR-2B is an auto-drafted ITC (Input Tax Credit) statement that is generated on the 12th of every month.Reconciling GSTR-2B
CGST Rule 36(4) is amended to remove 5% additional ITC over and above ITC appearing in GSTR-2B. From 1st January 2022, businesses can avail ITC only if it is reported by supplier in GSTR-1/ IFF and it appears in their GSTR-2B. From 1st January 2022, ITC claims will be allowed only if it appears in GSTR-2B.18-Apr-2022
What is the cut off date for Gstr-2B?
For instance, GSTR-2B generated for July 2020 will contain documents filed by their suppliers from 12 a.m. on 12th July 2020 up to 11:59 p.m. on 11th August 2020. GSTR-2B will be available from July 2020 onwards. It is available after 12th of a month for the previous month.
Currently, the Reverse Charge details are furnished in GSTR-1 (auto-populated to GSTR-2A) and GSTR-3B.
Why ITC is not showing in Gstr 2B?
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
Since it is automatically generated, there is no GSTR 2A due date in question. However, if any information in that form requires modification, enterprises must do so in GSTR-2, and the due date is between the 11th and 15th of the month immediately following the month for which such GST returns are filed.
How do I reconcile my Gstr 2A?
Through GSTZen, you can reconcile GSTR 2A in 4 simple steps:
Reverse Charge means the liability to pay tax is on the recipient of supply of goods or services instead of the supplier of such goods or services in respect of notified categories of supply.
How do I know if my Gstr 2A and 2b?
Step 1 – Login to GST Portal.
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
What is ITC reconciliation?
What is ITC Reconciliation? Reconciliation is done with the aim of covering all the details of purchases by the registered taxpayer in order to grant him the correct amount of credit. The process involves matching of details filed by the supplier in GSTR 1 with the purchase data uploaded by the registered taxpayer.29-Jul-2022
Who is required to file Form GSTR-1? Form GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services.
What is ITC mismatch?
ITC mismatch means the amount of Input Tax Credit availed and reflected by the registered person in Form GSTR-3B doesn't match with the amount of Input Tax Credit reflected in the auto generated statement in Form GSTR-2B.
What is the difference 2A and 2B?