what is gstr 2b

GSTR-2B is an auto-drafted Input Tax Credit (ITC) statement that acts as a reconciliation tool for taxpayers. It is generated for every normal taxpayer on the basis of the information furnished by their suppliers in their GSTR-1, GSTR-5, and GSTR-6 returns. GSTR-2B is a static statement that provides eligible and ineligible ITC for each month, similar to GSTR-2A, but remains constant or unchanged for a period. It is generated on the 14th day of the succeeding month and is made available online as well as through download facility. Taxpayers are advised to ensure that the data generated in GSTR-2B is reconciled with their own records and books of accounts. GSTR-2B is important for businesses as it helps them to reconcile their purchase ledger with the ITC claimed in their GSTR-3B return.