Recently, some reports have been received from the taxpayers regarding problems generating the GSTR-2B for October 2024, noting that it was unavailable on the GST portal as of November 14, 2024. In response, GST authorities clarified that the issue arises from the system’s design and specific compliance requirements.
Why is the Auto-populated Form GSTR-2B Not Showing Any Data?
The GST system has predefined conditions under which GSTR-2B, the automatically prepared Input Tax Credit (ITC) statement, is not generated. This happens in the following cases:
- QRMP Scheme Taxpayers: Taxpayers who fall under the Quarterly Return Monthly Payment (QRMP) scheme are not issued GSTR-2B for the initial two months of a quarter. Instead:
GSTR-2B is only generated for the final month of the quarter.
For the October-December 2024 quarter, GSTR-2B will be generated exclusively for December 2024, not for October or November 2024.
- Pending GSTR-3B Submission: For taxpayers who did not submit their previous GSTR-3B return, their GSTR-2B will not be generated for the following period.
For example, if the GSTR-3B for September 2024 is not filed, GSTR-2B for October 2024 will not be generated.
The only solution is, taxpayers need to first file the remaining GSTR-3B. After submission, they can manually calculate GSTR-2B for October 2024 using the “Compute GSTR-2B (OCT 2024)” option on the GST portal.
Correct Steps to Deal with Form GSTR-2B Issues
Taxpayers encountering non-generation of GSTR-2B can tackle it by following below steps:
- Check Filing Status
- Ensure previous GSTR-3B returns are filed.
- File any overdue returns to allow GSTR-2B issuance.
- Understand QRMP Limitations
- Taxpayers under the QRMP scheme should note that GSTR-2B is only generated for the final month of each quarter.
- Manually Generate GSTR-2B
- After filing overdue returns, use the “Compute GSTR-2B” option on the GST portal to generate the statement for the relevant tax period.
Significance of GST Compliance
Generating the GSTR-2B form is essential for accurately claiming ITC and ensuring easy GST compliance. Taxpayers can:
- Regularly file GSTR-3B to prevent issues in ITC claims
- Understand the quarterly filing system under the QRMP scheme
- Stay informed about updates on the GST portal to promptly address any technical or procedural issues
Conclusion: The absence of GSTR-2B for October 2024 underscores the need for taxpayers to go through the GST rules and maintain compliance. By following the outlined guidelines and taking timely actions, taxpayers can ensure seamless ITC reconciliation and avoid delays in GST filings.
