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Auto-drafted ITC Statement

What is GSTR 2B?

GSTR 2B has been recently introduced on the GST online portal. It contains the list of  GST paid Purchases made by the Business/ Registered Dealer. 

Difference between GSTR 2B and GSTR 2A?

Basically GSTR 2A is cumulative report of Purchases for a Financial year being updated constantly as and when supplier files it’s GSTR 1 whereas GSTR 2B lists monthly purchases or updations done by the seller.

GSTR 2A is dynamic and keeps changing whereas Monthly GSTR2B remains constant and remains unchanged.

Why GSTR 2B?

It’s need arose due to the fact that GSTR 2A for a period changed whenever the supplier updated it’s GSTR 1.

Let’s say that ABC Ltd made a sale to XYZ Enterprises for Rs 1,00,000 plus GST Rate of 18% in November’20. The seller missed to report this sale in it’s GSTR 1 for November’20 . Consequently when XYZ Enterprises downloaded it’s GSTR 2A in December’20 ( updated till the Month of Novemebr’20)the purchase from ABC Ltd wasn’t reflecting in it.

Subsequently ABC Ltd in it’s GSTR 1 for December’20 entered the sales made to XYZ Enterprises. This correction will effect GSTR 2A of XYZ Enterprises of November’20. It would be different from the GSTR2A downloaded by XYZ Enterprises earlier.

Imagine the changes in GSTR 2A of registered applicant wherein there are numerous vendors and huge number of purchase transactions. It would be a challenging task to find out the updations in GSTR 2A pertaining to the months prior to the month for which GSTR 2A reconciliation is being done.

Benefits of GSTR 2B

GSTR 2B will help you in finding out the updations by  vendors for your purchases done in the current month so it would be easier to find out the list of  credits which pertain to the previous months and were not claimed as ITC due to non-reflection in GSTR 2A .Also  it would be lot easier for the businesses to follow up with vendors whose purchases are not reflecting in GSTR2B as it lists all the current updations in the specific month of updation.

GSTR 2B is loaded with lots of advanced features which help you in correct claim of ITC , finding ineligible ITC etc. Also it gives you advisory under each section which indeed provides guidance and is helpful while determining the ITC Claim

How to assess GSTR 2B?

GSTR 2B can be assessed from GST Login of the applicant. It is available under the Returns Dashboard Option. You can assess GSTR2B of any month by selecting the month from the dropdown. The same can be viewed as well as downloaded.

By when GSTR 2B is available?

GSTR 2B is available for view or download almost a day after the monthly the due date of GSTR 1 Filing.The timelines for the availability of GSTR 2B can also be known from the GST Portal under the View Advisory Tab

It may be noted that GSTR-2B will consist of all the GSTR-1s, 5s and 6s being filed by your respective supplier. Generally, this date will be between fling date of GSTR-1 for previous month (M-1) to fling date of GSTR-1 for the current month (M). For example, GSTR-2B for the month of January will consist of all the documents filed by suppliers in their GSTR-1, 5 and 6 from 00:00 hours on 12th January  to 23:59 hours on 11th February.