GSTR-2B Launch on Trial and Error Basis
GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor).
It is a static statement and will be made available for each month, on the 12th day of the succeeding month.
It is expected that GSTR 2B will help in reduction in time taken for preparing return, minimising errors, assist reconciliation & simplify compliance relating to filing of returns.
You may also like: How to file GSTR 9 For FY 18-19 for Regular Taxpayers
Key features in GSTR 2B which would assist taxpayers in return filing are as under:
- It contains information on import of goods from the ICEGATE system including inward supplies of goods received from Special Economic Zones Units / Developers. This is not available with the release of GSTR 2B for the month of July and will be made available shortly.
- A summary statement which shows all the ITC available and non-available under each section. The advisory given against each section clarifies the action to be taken by the taxpayers in their respective section of GSTR-3B;
- Document level details of all invoices, credit notes, debit notes etc. is also provided both for viewing and download;
- GSTR 2B for the month of July 2020 has been made available on the common portal on trial basis.
- Since, this is the first time that the statement is being introduced, taxpayers are advised to refer to GSTR 2B for the month of July, 2020 only for feedback purposes
- All taxpayers are requested to go through their GSTR 2B for July 2020 and after comparing the same with the credit availed by them in July 2020, provide feedback (if any) on any aspect of GSTR 2B by raising a ticket on the self-service portal (https://selfservice.gstsystem.in/).
- All taxpayers are advised to view the detailed advisory relating to GSTR 2B on the common portal before using the statement.
Taxpayers can access their GSTR-2B through: Login to GST Portal > Returns Dashboard > Select Return period >GSTR-2B.
You may also like: How to file GSTR 9C for FY 18-19
Extension of due date for filing FORM GSTR-4 for financial year 2019-2020
The Central Government vide Notification No. 64/2020- Central Tax dated 31st August, 2020 has further extended the due date of filing of GSTR-4 for the year ending 31st March,2020 till 31st October ,2020.