ITC Statement Form GSTR-2B made available on GST Portal for taxpayers
1. 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.
- no credit is taken twice,
- credit is reversed as per law, &
- tax on reverse charge basis is paid.
3. 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).
4. It is a static statement, generated once on the 12th of the following month.
- It consists of all documents filed by suppliers/ISD in their Form GSTR-1, 5 & 6, between 00:00 hours on 12th day of preceding month to 23:59 hours, on 11th day of current month. Thus, statement generated on 12th of August will contain data from 00:00 hours of 12th July to 23:59 hours of 11th.
- The details filed in GSTR-1 & 5 (by supplier) & GSTR-6 (by ISD) would reflect in the next open GSTR-2B of the recipient irrespective of supplier’s/ISD’s date of filing. For e.g, if a supplier files a document INV-1 dt. 15.07.2020 on 11th August, it will get reflected in GSTR-2B of July (generated on 12th August). If the document is filed on 12th August, 2020 the document will be reflected in GSTR-2B of August (generated on 12th September).