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What is GSTR-2A

GSTR-2A is a purchase-related document which is provided to each business registered with it by the GST portal. When the seller or counterparty of a company uploads the GSTR-1 and 5 forms, the GSTR-2A is generated automatically. It describes the transactions a business makes in a specific month, thus noting all invoice details. It is, however, a read-only document, serving only to inform a business of the invoice details of its sellers. Before filing their returns on the GST portal as GSTR-2, the company concerned should verify this form and correct any discrepancies in it.

How is GSTR-2A Generated

The GST portal auto-populates GSTR-2A on the information available from the returns of a company's vendors or counterparties in the following forms.

  • GSTR-1

  • GSTR-5

  • GSTR=6

  • GSTR=7

  • GSTR=8

In these instances mentioned below, it is generated-

  • When transaction details are uploaded to the GSTR-1 Form by a seller (registered resident).

  • When transaction details are uploaded to the GSTR-5 Form by a seller (non-resident).

  • When the GSTR-6 Form is submitted by the Input Service Distributor.

  • Noting the TDS and TCS information when a counterparty files the GSTR-7 & 8 Forms.

Verification of GSTR-2A is necessary to file the GSTR-2 form. However, in some instances, the seller may defer the filing of GSTR-1. In that case, when filing their GST returns manually, the company concerned will need to fill out the necessary details. And to ensure consistency in the recording of information, the details submitted by a seller in GSTR-1 will be reflected in the next month in GSTR-2A of such a business.

How to File GSTR-2A

As it is a read-only document that is auto-populated based on other forms, it does not have to be filed by a company. However, if such an organization finds any discrepancy in the invoice details submitted by its seller in GSTR-1, companies need to accept it, reject it, modify it or defer its acceptance. Also, since it is automatically generated, there is no GSTR-2A due date in question. However, if any information in that form requires modification, enterprises must do so in GSTR-2 and the due date is between the 11th and 15th of the month immediately following the month for which such GST returns are filed.

How to View GSTR-2A

Individuals need to follow the steps listed below to view this return form.

  • Step 1: Visit the official portal for GST.

  • Step 2: Log in with the credentials necessary.

  • Step 3: On the dashboard, click on 'Services'.

  • Step 4: Click on "Returns" and then on "Dashboard Returns."

  • Step 5: The "File Returns" page will be displayed, where you need to fill in "Financial Year" and "Return Filing Period" and then click on ‘Search’.

  • Step 6: After that, under GSTR -download, one needs to click on the 'View' option.

  • Step 7: The GSTR-2A ‘auto-drafted’ details page will then be shown.

By selecting the relevant titles, the individual or organization concerned can view the featured information in this form.

What are the Details Featured in GSTR-2A

As per the mandate of the government, it contains seven headings. Those are-

  • GSTIN (GST Identification Number ) - GSTIN is a unique 15-digit PAN-based identification number issued under GST to every registered individual.

  • Name of Taxpayer - The legal name and trade name of the registered person.

PART A

  • Invoice information on inward supplies obtained from a registered individual by a company, except for supplies that incur a reverse fee. It is presented in the format below.

  • Inward supply on which tax is attracted by the reverse fee.

  • Both debit/credit notes and any changes earned in the current cycle. It is explained in the format below.

PART B

  • IDS credit earned - It refers to distributors of input services and their branches. This title indicates the ISD credit and any adjustments in the existing tax era.

PART C

  • It is applicable to companies engaged in TDS transactions or selling online through an e-commerce platform for TDS and TCS credit obtained (including modifications thereof).

Comparison between GSTR – 2A and GSTR – 3B

A self-declared return summarizing the Income Tax Credit (ITC) an organization is entitled to earn is a GSTR 3B form. Taxpayers are required, as per the guidelines, to reconcile GSTR-2A with this form. It is crucial to ensure that a company does not evade any tax or accept loans over what they are currently eligible for. In the event that a taxpayer is found to be claiming an excess ITC, it shall be compensated with interest. Failure to comply will lead to fines and other sanctions.

You may determine the effect of GSTR-2A on your business with the above details in mind. To keep your company compliant, make sure you stay posted with GST news and file GST on time.

To know more about GST, visit Finserv MARKETS today!

FAQs

  • ✔️What is GSTR-2A reconciliation?

    GSTR-2A reconciliation is the process of matching- the data in form GSTR-2A (auto-populated from various suppliers' GSTR-1, GSTR-5 & GSTR-6) & the data as per the purchase records of a business.

  • ✔️How do I prepare for the GSTR-2A reconciliation?

    Steps to reconcile:

    • Input your GSTR-2A data into the 'B2B from GSTN' sheet. Simply copy paste the GSTR-2A B2B data from the excel downloaded from the GSTN portal into the utility.

    • Input your Purchase Register details.

    • Right click and click on Reconcile Now button.

  • ✔️What is the difference between 2A and 2B in GST?

    GSTR-2A is dynamic in nature which can be changed from time to time whereas GSTR-2B is static in nature. Once GSTR-2B is generated, it can't be changed.

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