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2B or not 2B under GST?


In the year 2020 of august month we get to introduced with the new tab on GST portal which is 2B. In which we can make our work done easier way to claim the Input tax credit.

By the way according to the earliest way taxpayer use to claim their input tax credit according to the bills which is showing in the GST return 2A but after august onward they have also the option of 2B. So here we are going to know about both of these and ways to maximize the ITC.

AS you may know that GSTR 2B come up with the effect of 2A, The GSTR 2B is generate on the 12th of every month and for the quarterly filers with QRMP scheme the date became 13th of every month.

Earlier people match their records of purchase with the GSTR2A but now they have other choice which is GSTR 2B. On 15/03/2021 the CBIC announced that all the taxpayers must have to reconcile their purchase with GSTR2B and they can claim their input tax credit trough GSTR 2B only.

According to a survey all taxpayer who can claim ITC get to asked that, which is more convenient for them to claim the ITC. Is it GSTR2A or GSTR2B? Almost taxpayer has chosen GSTR2A

Input tax credit plays one of the important roles on GST portal especially for those who have to pay tax on their sale. By the help ITC they all the taxpayers can compensate their tax with the ITC on their purchases.

Earlier taxpayers weren’t introduced with the GST then they use to reconcile their input tax credit with their purchase register. But imagine what if the purchase have skipped to entered into the purchase register as result they will not be able to get their ITC as well. So as we have options to claim the INPUT TAX, so let’s discuss on those options which is GSTR2A, GSTR2B, purchase register.

Role of GSTR 2A

GSTR2A is the auto-draft purchase statement which is available on the GST portal of the every taxpayer, GSTR 2A is the reflection of all those sales which have made to the taxpayer so that they could the ITC, GSTR 2A accumulates all the details of purchase which have made by the different sellers of whole years.

Role of GSTR 2B

This is also the auto-draft purchase statement but in this statement the details of purchases are only available of the particular month before the date of 14th if any taxpayer filled their GSTR 1 after the date of 14th then they will get the detail on next month.

Role of purchase register

As we know if we use the GSTR 2A and GSTR 2B to claim the input tax credit then it will be permissible, although every permissible ITC are not allowed to claim. So the taxpayer always should opt for the system computed input tax credit. And they also should take care of all those purchase which is missing to be claim, that’s why they should reconcile their purchases with the recorded purchase register.

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