GSTR-2B is a static, auto-generated monthly Input Tax Credit (ITC) statement for recipients, generated on the 14th day of the month following the tax period. There is no filing deadline for GSTR-2B itself, as it is a view-only statement, but it is crucial for filing GSTR-3B by the 20th.
When Is GSTR-2B Generated? GSTR-2B is generated after furnishing details of GSTR-5, GSTR-6, and IFF (Invoice Furnishing Facility) which is due by 13th of every month. This means that GSTR-2B can be accessed on or after 14th of every month.
The GSTN has informed that GSTR-2B for December 2024 tax period will be generated after 2 days from the originally scheduled day of January 14, since the deadline for filing GSTR-1 was extended by 2 days. GSTN informed that GSTR-2B will now be generated on January 16, 2025 for the December 2024 tax period.
Therefore, upon non –filing of GST returns or missing out the GST due dates, the GST law prescribes a general penalty. The maximum penalty that may be imposed is Rs. 5,000. The taxpayer will be required to pay interest on late payment of GST at a rate of 18% annually in addition to the late payment penalty.
GSTR-2 was designed to be filed by all registered businesses to report their inward supplies of goods and services. The rules stipulated that it should be filed monthly, by the 15th of the following month, allowing for automatic pre-filling of the form based on the GSTR-1 submissions of suppliers.
4 What happens if GSTR-2 is filed late? Ans. If you delay in filing, you will be liable to pay interest and a late fee. Interest is 18% per annum.
How can I view and download Form GSTR-2B?
According to a report from the U.S. PIRG Education Fund, about 90 percent of first-time late fees can be waived if you simply ask. Even if you've missed payments more than once, some issuers still offer goodwill adjustments.
Do you need a Chartered Accountant (CA) for GST filing? No, a Chartered Accountant (CA) is not required to submit a monthly Goods and Services Tax (GST) return in India. The GST return filing procedure is made to be simple to use and enables taxpayers to submit their returns on their own.
Applicability of the Three-Year Rule
As per the advisory, no GST return can be filed after three years from its original due date.
Reason for Change:
The shift in the GSTR-2B generation date is a result of extended deadlines for filing GSTR-1 (sales return) and GSTR-3B (summary return) for December 2024. These extensions of two days were announced under Notifications No. 01/2025 and 02/2025, issued on 10th January 2025.
Accordingly, a taxpayer can claim ITC only if the same appears appears in their GSTR-2B. Hence, no provisional ITC can be claimed from 1st January 2022 onwards. Hence, matching of the purchase register with the GSTR-2B is crucial for ITC claims.
GST Notification 17/2025-Central Tax dt. 18-October-2025
Registered taxpayers can now file their GSTR-3B for the month of September 2025 or the quarter of July–September 2025 by October 25, 2025, instead of the earlier due date.
Maximum marginal rate is the highest rate of tax at any income level. This means for those with incomes between Rs 2 crore and Rs 5 crore, 39% will be the highest applicable tax rate, and for those with incomes above Rs 5 crore, it will be 42.74% — the highest tax rate since 1992.
Time Limits for Claiming ITC
If the supplier has paid the tax on the supply, you have up to 12 months from the date of supply to claim ITC. If the supplier has not paid the tax on the supply, you have up to 36 months from the date of supply to claim ITC.
No, you don't have to file Form GSTR-2B. It is only a read-only static auto-drafted ITC statement which indicates the availability of Input Tax Credit to you against each document filed by your suppliers and ITC received through ISD.
Firstly, it's essential to understand that the charges for filing GST returns by a CA may vary depending on various factors such as the complexity of the return, the volume of transactions, and the experience of the CA. On average, CAs may charge anywhere between Rs. 2,000 to Rs. 15,000 per year for filing GST returns.
Richest Chartered Accountants in India. 1. Kumar Mangalam Birla (Net Worth: $19 billion) 2.
With the recent changes in the Indian Income Tax Act, it's now possible to pay zero tax on a salary of up to Rs. 7 lakhs. To pay zero tax on a 7 lakh salary using the old tax regime, maximize deductions: Claim Tax Rebate under Section 87A.
The 7-in-7 rule (or 7x7 rule) in debt collection, part of the CFPB's Regulation F , limits how often debt collectors can call a consumer about a specific debt: they cannot call more than seven times within seven consecutive days, nor can they call again within seven days of a conversation about that debt, preventing harassment and abusive practices, though these are rebuttable presumptions of compliance.
Key takeaways
Exports are now strictly classified under B2C. This change aims to streamline HSN-wise data validation and reduce mismatches in GST returns.
Further, GSTR-2B is a static statement and is made available for each month on the 14th day of the succeeding month.
By using GSTR-2B, businesses can reconcile their ITC claims more efficiently, ensuring they only claim credits they are entitled to. It plays a crucial role in GST compliance, helping businesses manage their tax obligations effectively.