GST Network providing auto-drafted input tax credit statement to taxpayers

Goods and Services Tax Network (GSTN), the information technology backbone provider for GST introduced a new return filing form which has auto-populated input tax credit.

The new form GSTR 2B is activated and expected to help in reduction and time took for organizing return, minimising errors reconciliation & simplify submission relating to filing of returns and will be available for each month on 12th day of succeeding month, said in the statement.

The GSTR - 2B will contain information on the import of goods from the ICEGATE system, will have a summary statement and have document level details of all invoices, debit notes etc. GSTR- 2B will be generated for every person on the basis of information given by the suppliers.

There was a discussion on these linkages from a long time and we're awaited by both industry and government. These would definitely aid the Government in checking tax evasion, said by Abhishek Jain, the Tax partner.

Meanwhile, two new tables have been inserted in GSTR- 2A for displaying details of imports of goods from overseas and inward supplies. The insertion will enable taxpayers to reconcile the tax paid and tax reflected in the system online. This has been enabling for the trial basis for feedback.