Quarterly return filers can file their first and second month B2B invoices

GSTR-1 related:-

  • Quarterly return filers can file their first and second-month B2B invoices in Invoice Furnishing Facility (IFF) on or before 13th of 1st month in next qtr
  • The total value of such B2B invoices is limited to 50 lakhs per month.
  • No need to report invoices again in GSTR-1 if already reported in IFF
  • The due date of GSTR-1 for quarterly filers is the 13th of 1st month in the next quarter.
  • HSN/SAC codes shall be mentioned mandatorily in GSTR-1 ( <5Cr- 4 digit, >5Cr- 6 digit)
gstr 2

GSTR-2 related:-

  • The invoices reported in IFF shall be made available to recipient in their GSTR-2A/2B
  • Notified FORM GSTR-2B

GSTR-3B related:-

  • Rule 61(6) was inserted to provide due to date for filing GSTR-3B for the months of Oct 2020 to Mar 2021 as 20th of next month if TO > 5 Crores
  • Quarterly return filers shall deposit tax in electronic cash ledger on or before 25th of next month for first and second months
  • The due date for filing ITC-04 (Job worker return) for the period July 2020 to September 2020 is extended to 30th November 2020
  • E-invoicing is mandatory from 01.01.2021 for every taxpayer (other than SEZ unit) whose aggregate TO in any of the FY from 17-18 exceeds 100 Crores

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Gstr-2B Form- Invoice Level Input Credit Statement

1. Gstr-2B is not a Return.Its similar to GSTR-2A with some exceptions

2. It is an auto-populated static ITC statement which will clearly show ”ITC available and not available” for every invoice on a monthly basis

3. It will be made available once a month on 12th of every succeeding month

4. For example, GSTR-2B generated on 12th September 2020 shall contain invoices uploaded and filed by suppliers between 12th August 2020 to 11th September 2020

Gstr 2B

5. GSTR-2B also contains info on Imports from other countries and SEZ’s

6. Invoices will be marked as ITC Not Available in two cases:

  • If the supplier files the invoice after 30th September of succeeding year of invoice i.e. Section 16(4)
  • If POS is different from the recipient state

7. GSTR-2B provides an option to search invoice and to request statement over an e-mail

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