The Goods and Service Tax Networks (GSTN) has issued the Advisory for taxpayers on Form GSTR-2B wherein it was stated that availability of ITC made available to the taxpayers in the Afternoon of 14th of every month.
Form GSTR-2B is an auto-drafted ITC statement that is generated for every normal taxpayer on the basis of the information furnished by their suppliers in their respective GSTR-1/IFF, GSTR-5 (non-resident taxable person), and GSTR-6 (input service distributor).
“This statement indicates availability and non-availability of input tax credit to the taxpayer against each document filed by their suppliers and is made available to the taxpayers in the afternoon of 14th of every month,” the advisory said.
GSTR-2B is an auto-drafted ITC statement that is generated for every normal taxpayer on the basis of the information furnished by his suppliers in their respective GSTR-1/IFF, GSTR-5 (non-resident taxable person) and GSTR-6 (input service distributor). The statement indicates the availability and non-availability of input tax credit to the taxpayer against each document filed by his suppliers.
It may be noted that the process of GSTR-2B generation starts after the ending of IFF, GSTR-5, and GSTR-6 due date on 13th midnight, and therefore GSTR-2B can be made available to the taxpayer in the afternoon of the 14th of the month. Further, GSTR-2B is a static statement and is made available for each month on the 14th day of the succeeding month. For example, for the month of July 2020, the statement was generated and made available to the registered person on 14th August 2020. Details of all the documents in GSTR-2B are made available online as well as through the download facility.
For monthly GSTR-1 filers, any GSTR-1 filed between the due date of furnishing for the previous month (M-1) to the due date of furnishing of GSTR-1 for the current month (M). For example, the GSTR-2B generated for the month of Jan 2021 contains the details of all the documents filed by suppliers in their monthly GSTR-1 from 00:00 hours on 12th Jan 2020 to 23:59 hours on 11th Feb 2020.
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