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GSTR-2B – Auto-drafted Input Tax Credit Statement

Recently, the Central Board of Indirect Taxes and Customs has launched Form GSTR-2B. Form GSTR-2B is a static auto-drafted statement which contains input tax credit details. The form will indicate availability/ non-availability of input tax credit to the registered taxable person against each document filed by their suppliers. Accordingly, the new form will undoubtedly help the taxpayer in reconciling the data generated in Form GSTR-2B with the data in their books of accounts.

Importantly, Form GSTR-2B for the month of July 2020 is made available on the GST portal for reference and feedback purpose.

The salient features of the new form and the steps to download the same from the GST portal is explained in the current article.

Salient Features of Form GSTR-2B-

In order to understand Form GSTR-2B, it is important to go through the salient features of the same which are listed hereunder-

• Form GSTR-2B is an auto-drafted Input Tax Credit Statement.
• The statement will be generated, monthly, on 12^th day of the next month for every registered person.
• The input tax credit will be reflected in the statement based on the information furnished by the suppliers vide the following forms-
  • Form GSTR-1 – Normal taxable person
  • Form GSTR-5 – Non-resident taxable person
  • Form GSTR-6 – Input Service Distributor
• Form GSTR-2B mainly consists of two tables. The coverage of both the tables are explained hereunder-

Coverage of Table 3	Coverage of Table 4
Table 3 covers the input tax credit available as on the date of generation of Form GSTR-2B.   The summary is divided into two parts- Part A – covers the input tax credit that may be availed and Part B – covers the input tax credit that shall be reversed.	Table 4 covers the input tax credit not available as on the date of generation of Form GSTR-2B.   The summary is divided into two parts- Part A – covers the input tax credit that is not available and Part B – covers the input tax credit reversal.

The form also covers the information on the import of goods from the ICEGATE system. The same also includes the inward supplies of goods received from Special Economic Zone Units and Special Economic Zone Developers.

It is important to note here that the form doesn’t cover the information of reverse charge credit on import of services and hence the taxpayer should enter the same in Table 4(A)(2) of Form GSTR-3B.

Further, Part A of Table 4 covers only the following two cases-

1. Cases, wherein, the recipient is not eligible for the input tax credit as per section 16(4) of the Central Goods and Service Tax Act, and
2. Cases, wherein, the supplier (GSTIN) and the place of supply are in the same State and the recipient in another State.

For other reversals, the taxpayers are required to self-assess and reverse.

• The taxpayer should avail the input tax credit on a self-assessment basis, in case the return filing date of Form GSTR-5 and Form GSTR-6 is later than the date of generation of Form GSTR-2B.

STEPS to download Form GSTR-2B-

The registered person can download Form GSTR-2B by following the below steps-

STEP 1 – Visit GST portal (i.e. https://www.gst.gov.in/).

STEP 2 – Click on ‘Login’ icon.

STEP 3 – Enter appropriate ‘Username’, ‘Password’ and the characters show.

STEP 4 – Navigate the path Services > Returns > Returns Dashboard.

STEP 5 – Select the ‘Financial Year’ and ‘Return Filing Period’.

STEP 6 – Select Form GSTR-2B.

Noticeably, the taxpayer can view or download Form GSTR-2B in both excel or PDF format. Further, the taxpayer can view/ download the supplier-wise summary. Also, the taxpayer can view/ download the document-wise details of all invoices, credit notes and debit notes etc.