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GSTR-2A of a taxpayer is a monthly auto-populated return that consolidates all purchase details made by him. It is available for every tax period with the ITC details extracted from the GSTR-1 filed by the corresponding suppliers.
GSTR-2A is available to taxpayers on the GST portal for download, usually at the time after the filing of GSTR-1 for the month or quarter around 12th of every month or any day after the due date of quarterly GSTR-1.
GSTR-3B is the summary return filed every month, where the ITC is being claimed on a provisional basis. The GST authorities at the time of examining the details mentioned in the GSTR-3B filed will adopt various means or tools to verify the authenticity of the ITC claimed. GSTR-2A is one such means to check accuracy.
GSTR-2A return (Supplier Data) is currently available in an excel format on the GST portal after logging in. The return can be used by taxpayers before filing GSTR-3B for the relevant month; The purpose is to check whether the purchase invoices reported by corresponding suppliers are in line with the amount of ITC intended to be claimed in GSTR-3B
Following are the two main reasons for using GSTR-2A report:
Assists taxpayers for accurate reporting in GSTR-3B:
Ensures 100% ITC claim for a financial year:
Multi-month GSTR-2A report assists businesses to reconcile the input tax credit claimed across the tax periods in a financial year. Some businesses file GST returns in GSTR-1 monthly whereas some file it quarterly. This leads to a delay in reconciliation exercise by a business especially, when the supplier is filing quarterly GSTR-1 as compared to business filing GSTR-3B regularly every month.
Later on, when the updated GSTR-2A is available with such quarterly reported invoice details, the business must do a matching exercise with ITC claimed in GSTR-3B filed till date, to check for any lapses.
ClearTax GST offers easy imports and downloads of GST data for preparation of GST returns.
It provides various options for a user to ingest data to prepare the GSTR-1, GSTR-3B or GSTR-4 in under minutes. Options like excel ingestion or direct integration with ERP are available for importing sales or purchase data into ClearTax GST software.
A user has to import the sales data for GSTR-1 just once. Based on this, the software auto-populates the details into GSTR-3B in a click of a button. Furthermore, the user can fetch GSTR-2A data easily from the GST portal, across months using the ‘Multi month GSTR-2A’ Report. The ‘Advanced Reconciliation Tool’ within the product will help reconcile GSTR-2A with purchase data. It shows differences precisely allowing users to make necessary adjustments in ITC values in GSTR-3B or take any necessary action.
Thus, one can avoid errors and ensure 100% accuracy in reporting of data in GSTR-3B with minimal manual intervention.
ClearTax GST also provides useful insights under the REPORTS section so you can speed through the journey of GST compliance in a hassle-free way!
The report on ClearTax GST can:
Download the GSTR-2A data in an excel format for further use.
Follow these steps to download and access to Multi month GSTR-2A data:
Step 1. Login to ClearTax GST portal, select Business(GSTIN) for which you want to download the report. Select ‘Multi month GSTR-2A report’ from a drop down, against a particular GSTIN on the dashboard as follows:
Step 2. Choose the Financial year – For example, choose the FY 2017-18 from dropdown as shown below:
Step 3. Click on ‘Download Multi month Supplier data from GSTN’ – perform a one-time verification with GSTN login credentials.
Step 4. Report gets generated on the screen. Sort the data by applying filters. Click on ‘ Download all invoices as excel’ to get the report in excel format.
ClearTax offers a FREE integrated tool for GST registered businesses to track and check their compliance level for GST Returns filed. Every GSTIN can now access the GST Health Check tool to get the following result in an excel form:
Try out the GST health check tool and check your GSTIN’s health now!