GSTR-2 -Inward Supplies -GST Return- Analysis

By | October 7, 2016
(Last Updated On: October 7, 2016)

Contents

GSTR-2

Details of Inward Supplies /Purchases Received

Details of Inward Supplies /Purchases Received

Key Points of GSTR-2 (Inward Supplies)

  • Due Date :– GSTR-2 (Details of Inward Supplies /Purchases Received ) to be furnished by the 15th of the month succeeding the tax period.
  • Non Applicability :-GSTR-2 (Details of Inward Supplies /Purchases Received ) is not to  be  furnished by compounding Taxable Person /ISD
  • Auto-population :– Auto-population would be done, on the basis of GSTR1 of counter-party supplier  in concerned tables in GSTR-2 (Details of Inward Supplies /Purchases Received ) . It can be modified by the taxpayer while filing GSTR-2.
  • Other Details :– Further the other details that are not auto-populated, i.e. import of services, eligibility of ITC and quantum thereof and purchases from unregistered Taxable
    Person shall be furnished in GSTR-2 (Details of Inward Supplies /Purchases Received )
  • ITC Ledger :- The details of inwards supplies would be auto-populated in the Input Tax Credit (ITC) ledger on submission of return..
    • The recipient of goods and/or services shall specify the inward supplies in respect of which he is not eligible, either fully or partially, for input tax credit in FORM GSTR-2 where such eligibility can be determined at the invoice level.
    • The recipient of goods and/or services shall declare the quantum of ineligible input tax credit on inward supplies which is relatable to non-taxable supplies or for purposes other than business and cannot be determined at the invoice level in FORM GSTR-2.
  • Input Service Distributor Invoice Details :- The details of invoices furnished by an Input Service Distributor in his return in FORM GSTR-6 under rule 7 shall be made available to the recipient of credit in Part B of FORM GSTR 2A electronically through the Common Portal and the said recipient may include the same in FORM GSTR-2.
  • Details of tax deducted at source :– The details of tax deducted at source by the deductor under section 37 furnished in FORM GSTR-7 shall be made available to the deductee in Part C of FORM GSTR-2A 3 electronically through the Common Portal and the said deductee may include the same in FORM GSTR-2.
  • Details of TDS by an e-commerce operator :-The details of tax collected at source by an e-commerce operator under section 43C furnished in FORM GSTR-8 shall be made available to the concerned taxable person in Part D of FORM GSTR 2A electronically through the Common Portal and such taxable person may include the same in FORM GSTR-2.
  • Partial credit  :- Separate table for submitting details in relation to ITC received on an invoice on which partial credit has been availed earlier.
  • NO ITC if Depreciation Claimed :-Where the registered taxable person has claimed depreciation on the tax component of the cost of capital goods under the provisions of the Income Tax Act, 1961, the input tax credit shall not be allowed on the said tax component.
  • GST Law provides that where the goods against an invoice are received in lots or instalments, the registered taxable person shall be entitled to the credit upon receipt of the last lot or instalment.
  • GST law provides that a taxable person shall not be entitled to take input tax credit in respect of any invoice for supply of goods and/or services, after the filing of the return under section 27 for the month of September following the end of financial year to which such invoice pertains or filing of the relevant annual return, whichever is earlier.

Download – GSTR-2 -Inward Supplies Format

Read also  GST Return filing Process in India

 

GST Return ,GSTR 1, GSTR 2, GSTR 3, GSTR 4, GSTR 5, GSTR 6, GSTR 7, GSTR 8, GSTR 9, GSTR 10, GSTR 11,

GST Return : Who … What….When….to File GST Return

 

Sr.No

Form

Who to File ?

What to file?

When to File ?

1

GSTR-1

Registered taxable supplier

Outward supplies

10th of the month succeeding the tax period

2

GSTR-2

Registered taxable recipient

Inward supplies /Purchases

15th of the month succeeding the tax period

3

GSTR-3

Registered taxable person

Outward supplies , inward supplies, ITC availed, tax payable, tax paid and other particulars as prescribed

20th of the month succeeding the tax period

4

GSTR-4

Composition supplier

Outward supplies, inward supplies

18th of the month succeeding the quarter

5

GSTR-5

Non-resident person

Outward supplies, inward supplies

20th of the month succeeding tax period & within 7 days after expiry of registration

6

GSTR -6

Input service distributor

details of tax invoices on which credit has been received

13th of the month succeeding the tax period

7

GSTR-7

Tax deductor

Details of tax deducted

10th of the month succeeding the month of deduction

8

GSTR-8

E commerce operator/tax collector

Details of tax collected.

10th of the month succeeding the tax period

9

GSTR-9 

Registered Taxable Persons

Annual Return

31st December of the next Financial Year]

10

GSTR 9A

Taxable Person paying tax u/s 8 (Compounding Taxable Person)

Annual Return

31st December of the next Financial Year]

11

GSTR 9B

Registered Taxable Person (if Turnover Exceeds 1Crore)

Audit Report with Reconciliation Statement

31st December of the next Financial Year

12

GSTR 10

Taxable person whose registration has been surrendered or cancelled

Final return

within three months of the date of cancellation or date of cancellation order, whichever is later

13

GSTR 11

Persons having Unique Identity Number and Claiming Refund

Details of inward supplies

28th of the month following the month for which statement is filed

Read also  GST Return filing Process in India

Download Draft GST Return Rules Released by Govt

Download Draft GST Return Formats released by Govt

Download Other GST Return Forms from GST Tab-GST Rules and Forms- Draft GST  Rules and Form -Return Form  at Taxheal.com

Free Education Guide on Goods & Service Tax (GST)


SR No

Topic -GST

Resources

1

Model GST Law

Model GST Law

2

GST Overview

Goods and Services Tax (GST): An Overview

Integrated Goods & Service Tax (IGST) Act Overview

Meaning and Scope of Supply

Time of Supply

Place of Supply of Goods and Service under GST

Valuation in GST

Levy of GST & Exemption from Tax

Job Work under Goods & Service Tax (GST)

Electronic Commerce under Goods & Service Tax (GST)

3

Transition to GST

Transitional Provisions in Goods & Service Tax (GST)

4

Registration

GST Registration FAQ’s

GST Registration Process -Video

GST -Draft Registration Rules

GST -Draft Registration Formats

5

Invoice

GST Draft Invoice Rules released by CBEC

GST Draft Invoice formats Released by CBEC

6

Input Tax Credit

Input Tax Credit under Goods & Service Tax (GST)

Concept of Input Service Distributor in Goods & Service Tax (GST)

7

Payment

GST Payment of Tax

GST Draft Payment Rules Released by CBEC

GST Draft Payment formats Released by CBEC

8

Refunds

Refund under GST

Draft GST Refund Forms released by CBEC

Draft GST Refund Rules released by Govt

9

Returns

Returns Process and matching of Input Tax Credit under GST

Draft GST Return Rules Released by Govt

Draft GST Return Formats released by Govt

10

Assessment and Audit

Assessment and Audit under GST

11

Inspection, Search, Seizure and Arrest

Inspection, Search, Seizure and Arrest under GST

12

Offences, Penalty, Prosecution & Compounding

Offences, Penalty, Prosecution & Compounding in GST

13

Demands and Recovery

Demands and Recovery under GST

14

Appeals and Review

Appeals, Review and Revision in GST

15

Advance Ruling

Advance Ruling in Goods and Service Tax (GST)

16

Settlement Commission

Settlement Commission in Goods and Service Tax (GST)

17

GST Portal

Frontend Business Process on GST Portal

Direct Taxes Ready ReckonerService Tax Ready ReckonerCompany Law Ready Reckonertax deduction at source
New Books Released on Tax , GST and law

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