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Before delving into the differences, it’s crucial to first grasp the fundamentals of both the Form GSTR-2A and Form GSTR-2B.
For each entity, the GST portal generates GSTR 2A, a purchase-related dynamic tax return. When a seller files his GSTR-1, the information is captured in GSTR 2A. It determines what products and/or services were purchased in a given month using information from the seller’s GSTR-1. You can use the GSTR-2A for input tax credit details when filing GSTR-3B and GSTR-9 as a GST registered buyer.
GSTR- 2A shall be automatically populated from the following returns of the counterparty/sellers:
- GSTR 1 filed by a Registered seller
- GSTR-5 filed by a Non-resident taxable person
- GSTR 6 filed by Input Service Distributor
- GSTR 7 filed by an individual accountable for deducting TDS
- GSTR 8 filed by an e-Commerce operator
GSTR-2B is a new monthly static auto-drafted statement for regular taxpayers that was introduced on the GST portal (whether or not they have opted into the QRMP programme). GSTR-2B is similar to GSTR-2A in that it shows the eligible and ineligible Input Tax Credit (ITC) for each month, but it remains constant or unchanged for a period of time. In other words, even if their suppliers make changes in subsequent months, the data in a GSTR-2B for a month remains unchanged whenever it is accessed on the GST (Goods and Service Tax) portal.
The content of GSTR-2B is reflected in the list below:
- For each section, a summary statement demonstrating the availability of ITC is provided
- The type of action that those taxpayers must take is listed in the advisory for each section
- View and download individual documents such as credit notes, invoices, and debit notes
- GSTR-2B generation and usage cut-off dates and instructions
- Goods imports and imports from SEZ entities
GSTR 2A: Highlights
- GSTR 2A is a tax form that records monthly purchases of goods and services.
- GSTR-2A is a dynamic protein.
- The GST portal generates this form automatically from the seller’s GSTR 1.
- The purchaser’s GSTR 2A records any information filed by the seller in GSTR 1.
- GSTR 2A is a GST portal-generated form that is automatically generated from the seller’s GSTR 1 for each business.
GSTR 2B: Highlights
- GSTR-2B plays a vital role in making ITC reconciliation easier.
- GSTR-2B is essential for claiming maximum & eligible Input Tax Credit.
- GSTR-2B will be the final and definitive source to find out your eligible ITC for the month.
Key Difference Between GSTR 2A and 2B
- Type of Statement
Form GSTR-2A is a dynamic statement in its most basic form. Details of inbound supplies in relation to input tax credit will be updated on a regular basis.
Form GSTR-2B, on the other hand, is a type of static statement. The information will be updated on a regular basis.
- The Basis for Reflection of Details
The details of inward supplies will be reflected in the statement in real-time if you use Form GSTR-2A.
In other words, the information will be updated as soon as the supplier provides information about outbound supplies, either in Form GSTR-1 or through the Invoice Furnishing Facility (i.e. IFF).
The details of inward supplies, on the other hand, will be reflected in a static manner on Form GSTR-2B. It will show the details of outbound supplies reported by the supplier between two Form GSTR-1 or Invoice Furnishing Facility due dates.
- Bifurcation of eligible and ineligible Input Tax Credits
Form GSTR-2A does not distinguish between eligible and ineligible input tax credits. Form GSTR-2B, on the other hand, distinguishes between eligible and ineligible input tax credits.
- Data source
Form GSTR-2A collects and compiles data from the supplier’s Form GSTR-1, Form GSTR-5, Form GSTR-6, Form GSTR-7, and Form GSTR-8 returns.
Form GSTR-2B, on the other hand, compiles data from the supplier’s Form GSTR-1, Form GSTR-5, and Form GSTR-6.
GSTR 2A and 2B: Conclusion
As shown above, the differences between GSTR-2A and GSTR-2B are based on a few factors. It’s worth noting that, due to its dynamic nature, GSTR-2A seeks reconciliation on a regular basis. However, this is not the case with GSTR-2B. Hence it can be difficult to claim ITC on the GST portal at times. If you’re having trouble doing so, please contact a Zolvit representative for assistance.
| Zolvit makes filing GST returns simple and convenient. Our experts provide you with a variety of options for preparing the GSTR-1, GSTR- 2 GSTR-3B, or any other GST return in no time. All you need to do is handover your GST hassles to our associates today! |
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