ITC not reflect in GSTR2B, Goods and Services Tax - GST

[Rakesh Sharma]

Sir,

can i take itc of Mar 2021 as my supplier not filed GSTR-1 before 11th April. ITC is reflecting in GSTR-2A in Mar but not in GSTR-2B.

What if i take itc in march itself if the answer in no?

Posts / Replies

[KASTURI SETHI]

Dear Rakesh Sharma Ji,

Since your supplier has filed GSTR-1 after 11.4.21, you can take ITC now. It is not risk prone.

[KASTURI SETHI]

In continuation of my reply, in this scenario neither interest can be charged nor penalty can be imposed up on provided you fulfill all the parameters laid down under Sections 16 & 17 of CGST Act.

In other words, you must have tax invoice in your possession. Goods or services or both must be received. Payment must be made to the supplier within stipulated period. Proper entry (ies) in books of accounts and Last but not the least, ITC must not be hit by Section 17(5) of CGST Act.

[Rakesh Sharma]

but sir why there is 2B and what about sec 16 (2) aa amendment in finance act?

[KASTURI SETHI]

By inserting sub-section 2 (aa), the responsibility is cast upon the supplier and thus the service receiver or buyer must not suffer because of the supplier's fault. The same applies to GSTR 2B.

[Shilpi Jain]

Pls see the article in the below link for more details on this issue

https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=9746

[Shilpi Jain]

This article also

https://www.taxmanagementindia.com/visitor/detail_article.asp?ArticleID=9732

[Ganeshan Kalyani]

I agree with the views of Sri Kasturi Sir. It is practical approach to follow GSTR 2B for taking ITC.