📢 GSTR-2B Is enabled On GST Portal Is Crucial To Your Business. Learn Why!

Updated: Aug 30, 2020

As we all are aware that a month ago Principal Commissioner - GST Policy at CBIC made an announcement about government planning to scrap new returns and decided to improve and modify the existing GST returns. Further to that, it was added that there will be new form GSTR-2B will be introduced in which will detail w.r.t input tax credit that can be availed, credit to be reversed, etc would be reflecting.

According to the Twitter source, GSTN has enabled the Form GSTR-2B. following are the details and formats have been shared.

  • GSTR-2B is going to be auto-drafted ITC statement which will provide details of the eligible/ineligible credits and the required reversals on the basis of GSTR-1, GSTR-5 and GSTR6 furnished by the vendors / ISD and ICEGATE, but the same is only recommended in nature and not necessarily binding on taxpayers.

  • It would link current return filing forms and help to curb tax evasion

  • This is a static document, which will be available on the 12th of the following month

Format of Form GSTR-2B

#Exclusive - Read Initial Article - New Method and Modification in GST Returns

  1. It contains goods import information from the ICEGATE system.

  2. It is a summary statement showing all ITCs that are available and not available under this section

  3. Document-level details of invoices, credit notes, debit notes, etc.

Note: It's recommended that all taxpayers assess the detailed GSTR-2B Advisory on the Common Portal before using the Statement

System Downloaded Advisory on GSTR-2B

Taxpayers can access their GSTR-2B through Login to GST portal Returns dashboard select return period GSTR-2B

Further, also Cut-off dates considered for GSTR-2B been provided as follows