Reetu | Sep 16, 2020 |
GST – ITC Statement Form GSTR-2B
ITC Statement Form GSTR-2B, made available on GST Portal for taxpayers.
GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis of the information furnished by their suppliers, in their respective Form GSTR-1 & 5 and Form GSTR-6 filed by ISD.
Taxpayers can now reconcile data generated in Form GSTR-2B, with their own records and books of accounts. Using this reconciliation, they can now file their Form GSTR 3B and they can ensure that –
GSTR2B | Understanding GSTR2B Practically
Generated Form GSTR-2B consists of:
A summary of ITC available as on the date of its generation and is divided into credit that can be availed and credit that is to be reversed (Table 3)
A summary of ITC not available and is divided into ITC not available and ITC reversal (Table 4)
Tags: GST
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