The Central Board of Indirect Taxes and Customs ( CBIC ) has enabled the auto-drafted Input Tax Credit ( ITC ) statement GSTR-2B for the month of July.
The GST Council, in its 39th meeting held on 14th March 2020, had recommended to adopt and implement the incremental approach of linking the present system of filing of GSTR-3B and GSTR-1 and other significant changes like enhancements in GSTR-2A and its linking to GSTR-3B. One such enhancement that the Council recommended was the introduction of an auto-drafted input tax credit (ITC) statement which would aid in assisting/determining the input tax credit that is available for every taxpayer.
GSTR-2B is going to be such an auto-drafted ITC statement which will be generated for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, 5 (non-resident taxable person) and 6 (input service distributor). It is a static statement and will be made available for each month, on the 12thday of the succeeding month. It is expected that GSTR-2B will help in reduction in time taken for preparing the return, minimizing errors, assist reconciliation & simplify compliance relating to filing of returns.
Key features in GSTR-2B which would assist taxpayers in return filing are as under:
Taxpayers can access their GSTR-2B through: Login to GST Portal > Returns Dashboard > Select Return period >GSTR-2B.