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GST-2 2018-10-29T10:18:22+00:00

GSTR – 2

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Meaning of GSTR-2

  • GSTR-2 is the form where the suppliers needs to report their inward purchases during the reporting month.

  • In Form GSTR-1 the details of the suppliers’ data are already available, so this form is pre-filled with such details. In GSTR-2 the dealers will have to approve or amend the transactions one by one to get input tax credit eligibility.

  • GSTR-2, in easier words, is the Summarized detailed return prepared for the inward purchases made by the businesses during the reporting period.

  • It is mandatory for all the registered taxable individuals to provide a detail of Inward Supply (purchases) made during the reporting period of GSTR-2 by the due date mentioned by the department.

  • Individual filing for GSTR-1 are also required to file for GSTR-2

  • To file GSTR-2 form, the facility is extended by department through its common GSTN portal “GST.GOV.IN”

  • Supplier/recipient of goods & suppliers needs to login to the GSTN portal with the given User ID and password to file the return either online or offline or with the help of Experts at UnfoldingTax.com

Revision of GSTR-2

  • As of now the facility of revising GSTR-2 has not been allowed by the department.

Frequency & Due date of filing GSTR-2

  • GSRT-2 is to be filed monthly and the due date will be 15th day of the following month

Due date for the month of July 2017 was decided to be 31st October, 2017 which was further extended to 30th November, 2017 by the department.

However Due dates for August onwards months is yet to be worked out by the GST committee.