How to File GSTR 2 - Due date and Format

What is GSTR 2?

GSTR filing has 11 subdivision in it, these returnsshould be filed by every taxable person. Here we are going to understand thedetails about what is GSTR 2. Every registered taxable person is required togive details of Inward Supply which is purchased for a tax period in GSTR 2return. GSTR 2 is basically a summary/ details of the purchase transactions ofa business for a month.

GSTR 2 is the return form which is included with monthly details ofpurchase and sales of goods and services which is included with serviceeffected claiming input credit tax.

GSTR 2 return filing due date is before 15th of every month. Later the taxpayer may not be allowed to file the details. A Registered person needs to submit the details of inward supply and it should be filed by Non - Resident Taxable Person, Input Service Distributor, the Person paying tax under section 10 -person opting for Composition Levy, Person required to deduct tax at source -person paying tax under section 51. The person required to collect tax at source- person paying tax under section 52. 

GSTR 2A is an automatically generated return for the purchase. By GSTR 1 the dealers can provide the details regarding the invoice to the buyers and in GSTR 2 the buyer gets the intimation regarding the same.
GSTR 2 is basically a read-only document which is not for filing purpose butworks as intimation for the buyer.

How To File GSTR 2?

●    Log on to GST portal with validcredentials required.

●    Visit GSTR 2 slab through ReturnDashboard - Select Financial Year and Return Filing Period and click on Search.

●    Click on PREPARE ONLINE option onGSTR 2 tab.

●   12 columns will be displayed whereyou have to provide appropriate data. Here you can click on “Generate GSTR 2Summary” and make sure the details may get available in GSTR 2.

●    Fill every required detail andcomplete every column.
Accept, Modify, Reject and Keep Pending auto-populated invoices /credit /debitnotes with the status as “Submitted”. The action of the auto-populated invoicewith the status as “Submitted” is mandatory.

●    After submission, the invoicetype, invoice date, reverse charge flag & POS cannot be modified.

●    In case debit or credit note isnot uploaded by the suppliers and you have to do it then you can add through “Addmissing invoice”.

●  Furnish the invoice, credit note,debit note details of supplies of goods and services received from theunregistered supplier and the Eligibility of credit and credit availed/reducedon them.

●    Furnish the invoice/credit debitnote details of import of services and the Eligibility of credit and creditavailed/reduced on them.

●    Submit the bill of entrywisedetails.

●   Submit summary details of advancereceived and liability on it, Adjustment of advance tax paid earlier, Values ofinward supplies should be consolidated from composition taxpayer, nil rated andNon - GST, Reclaiming of ITC under different provision law, HSN summary.

●    Generate GSTR 2 summary report.

GSTR 2 Due Date

GSTR 2 due date is on 15th of every month. There is a 5 days distance between the filing of GSTR 1 & GSTR 2. The GSTR 2 due date of July 2017 was exceeded till 11 December 2017. For updating the purchase return for GSTR 2 due date was October 31st. For a time being the filing for GSTR 2 was suspended and resumed after March 31, 2018.

Note: GST Council may change the dates of return filing which will be reflected on the GST portal

Who should file GSTR 2?

Filing GSTR or GST return is mandatory for every taxpayer under GST Act even if the inward transactions (purchases) of goods and/or services were made or not made for a specific period.
Along with this the input service distributors, Composition dealers, Non -resident taxpayers need to file GSTR 2.

Late Fees and Penalty for GSTR 2

The interest is calculated as 18\\\\\% per annum after the due date for GST payment.This is calculated by the taxpayer on the amount of outstanding tax to be paid.
The late fees are rupees 100 per day and it is liable for per Act. The maximum amount is 5000 rupees. The late fees of rupees 100 are only for SGST, CGST,this is not for IGST. Suppose you fall under SGST and CGST so the late fees would be 100 for SGST and 100 for CGST total would be Rs 200/day.

GSTR 2 Format - Excel Format & Form Download

In all, there are 13 tiles in GSTR 2 form, where the first tile has GSTIN in it and then the name of the taxpayer, month and year when the GSTR 2 was filed,Inward supplies from a registered taxable person, inward supplies on which taxis paid for reversed charges.

Goods received from overseas, Amendment for the details of inward supplies, Supplies from composition taxable person, ISD credit received, TDS & TCS credit received,Consolidate statement of advance paid, Input tax credit reversal or reclaim,addition and reduction of the amount paid of output tax for mismatched invoices, HSN summary. 

It is also possible to get the GSTR 2 excel format which will help to enter the data in bulk. GSTR 2 form download can be done by clicking below.