GST has been keeping people on toes since its implementation. One needs to learn a lot in order to file tax returns and that too monthly. It sure does sound very complicated but if one starts understanding the basics, there is not an easier thing other than this.
Let’s start with the basic GSTR 2A form available on the GST portal which makes the visibility of all incoming supplies made by the supplier in GSTR 1, available to the recipients.
What is GSTR 2A?
GSTR 2A is an auto-generated form which gets created when the supplier or the goods or service provider or the seller files for GSTR 1. As we already know that with the use of GSTR 1, the dealer provides the details of invoices raised by him towards the buyer. The buyer is notified about the same in the form of GSTR 2A. It is a purchase-related tax return generated automatically for each and individual business by the GST portal.
GST Tip: GSTR 2A is a read-only document which allows one to verify against each of the invoice details by providing with Accept or Decline option.
The details are made available on the GST portal when one submits the returns in the portal. For instance, when a seller files his/her GSTR 1, the information provided by him/her is hooked by GSTR 2A. Then, the information regarding the purchase of goods and services made in a given month is taken from the seller’s GSTR 1 to GSTR 2A form of GST portal. The GST Portal gives the option of verification (or amendments) about the return before filing in. After that, the buyer needs to accept the invoice details filled in by the assessee. Once, this process is completed the same details are auto-populated in the GSTR 2 of supplier or seller.
Apart from the details of GSTR 1, the details which are made available on the submission of returns in the portal and are self-generated from the following sellers or counterparty-
- GSTR 5 (supplied by non-resident taxable person)
- GSTR 6 (Input Service Distributor)
- GSTR 7 (Person liable to deduct TDS)
- GSTR 8 (collected by TCS E-commerce)
GST Tip: In case of discrepancy, where the buyer declines the details or requires modification, this can be amended while filing of GSTR 2.
GSTR 2A Purpose:
Intriguingly, GSTR 2A is not meant for filing purposes. This form is merely for an intimation to the counter-party which can be viewed and downloaded for future purposes. But once the GSTR 2 has been filed by both the parties(buyer and seller) in question, the details of GSTR 2A for a given tax period are restricted from doing any further modifications.