Input tax credit is an important part of GST compliance.
GSTR-2B is an auto-drafted ITC statement generated using information furnished by suppliers and other applicable sources. The GST Portal describes it as a static statement generated for each month.
Why reconcile GSTR-2B?
Businesses can compare:
Purchase register ↔ GSTR-2B ↔ Supplier invoices
This can help identify:
- Missing invoices
- Duplicate records
- Incorrect GSTINs
- Tax amount differences
- Supplier filing issues
Recommended workflow
- Export purchase register.
- Obtain GSTR-2B.
- Match invoice numbers.
- Match supplier GSTINs.
- Compare taxable values.
- Compare GST amounts.
- Investigate mismatches.
- Determine eligible ITC based on applicable rules.
