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GSTR-2A reflects all the purchases made by a taxpayer during a particular period, as filed by its suppliers. The details appearing in GSTR-2A are auto-populated from the GSTR-1 filed by all the suppliers of a taxpayer. Currently, a taxpayer can download GSTR-2A month-wise only.
The GST registered businesses must reconcile GSTR-2A and the purchase data to claim the maximum eligible Input Tax Credit (ITC). A taxpayer has to reconcile the downloaded GSTR-2A data with their purchase data manually, which is time-consuming. Instead, using a recon software or tool will make this task easier.
1st February 2022
Budget 2022 updates-
1. ITC cannot be claimed if it is restricted in GSTR-2B available under Section 38.
2. Time limit to claim ITC on invoices or debit notes of a financial year is revised to earlier of two dates. Firstly, 30th November of the following year or secondly, the date of filing annual returns.
3. Section 38 is completely revamped as ‘Communication of details of inward supplies and input tax credit’ in line with the Form GSTR-2B. It lays down the manner, time, conditions and restrictions for ITC claims and has removed the two-way communication process in GST return filing on the suspended return in Form GSTR-2. It also states that taxpayers will be provided information of eligible and ineligible ITC for claims.
4. Section 41 is also revamped to remove the references to provisional ITC claims and prescribes self-assessed ITC claims with conditions.
5. Sections 42, 43 and 43A on provisional ITC claim process, matching and reversal are eliminated.
6. Section 50 stands amended for levying interest on excess ITC claims and utilisation, together with the manner of interest computation.
29th December 2021
CGST Rule 36(4) is amended to remove 5% additional ITC over and above ITC appearing in GSTR-2B. From 1st January 2022, businesses can avail ITC only if it is reported by supplier in GSTR-1/ IFF and it appears in their GSTR-2B.
21st December 2021
From 1st January 2022, ITC claims will be allowed only if it appears in GSTR-2B. So, the taxpayers can no longer claim 5% provisional ITC under the CGST Rule 36(4) and ensure every ITC value claimed was reflected in GSTR-2B.
Step 1: Log in to the GST portal with your username and password.
Step 2: After logging, select ‘Returns Dashboard’ as shown below.
Step 3: Select the month & financial year for which you want to download GSTR-2A in excel. Click on the ‘Download’ tab appearing in the ‘Auto Drafted details’ box.
Step 4: On the screen that appears, click on the button- ‘Generate excel file to download’ to download the file in excel format.
Alternatively, click on the button “Generate JSON file to download” to download the file in JSON format. Once you select this option, the portal will take around 20 mins to process your request for GSTR-2A in excel.
Step 5: Once processed, you will see a link ‘Click here to download Excel – File 1’ right below the button ‘Generate excel file to download’. Click on this to download the file.
Step 6: The requested file will be downloaded from the portal in a zipped folder. Make sure that your system has .rar,.zip software to unzip the file. Lastly, unzip the excel file to use GSTR-2A data.
ClearTax GST software comes with an inbuilt feature of advanced reconciliation, enabling you to download GSTR-2A data across different months or for an entire year in a single click. It has the intelligence to auto-identify matches between purchase registers and GSTR-2A to suggest matches. You can define your own customer matching rules and error tolerance to identify ‘invoice match’. Also, you can eliminate filing errors and save your money with our GST platform that is 3x faster and detects 100% ITC with AI-powered reconciliations.