ITC Statement Form GSTR-2B

The GST Council, in its 39th meeting held at New Delhi on 14th March 2020 has deferred the implementation of the new GST return system to 1st October 2020 and the present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. With the deferment of new GST return system and continuation of existing return system, GST Council had recommended to adopt and implement linking of GSTR-1 & GSTR-2A with GSTR3B. As we know GSTR-2A is a dynamic return, so to solve this issue, GSTR-2B has been introduced. GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement generated for every recipient, on the basis of the information furnished by their suppliers, in their respective Form GSTR1(Outward Supply details) & 5 (Non Resident Taxable Person return) and Form GSTR-6 filed by Input Service Distributor. Read more...