Goods and Service Tax Network (GSTN) launched GSTR-2B for the month of July 2020 as an auto-drafted input tax credit (ITC) statement.
About:
GSTR-2B is an auto-drafted ITC statement which will be generated for every registered person on the basis of information furnished by his suppliers in their respective GSTR-1, GSTR-5 (non-resident taxable person) and GSTR-6 (input service distributor).
It is a static statement and will be available for each month on the 12th day of the succeeding month, an official release said. The data in GSTR-2B is reported in a manner that allows taxpayers to conveniently reconcile ITC with their own books of accounts and records.
The launch of this GSTR-2B is expected to reduce the time taken for preparing return, minimise errors, assist reconciliation and simplify compliance relating to filing of returns.
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