What Is GSTR-2 And What Are The Details Required To Be Furnished In GSTR-2?

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  • By Taxmann
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  • Last Updated on 28 November, 2023

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• GSTR-2 is for inward supplies of goods or services or both received during a tax period.
 
 
     o invoice wise details of all inter-State and intra-State supplies received from registered persons or unregistered persons;
 
     o  import of goods and services made; and 
 
     o debit and credit notes, if any, received from supplier.
 
• Registered person will be required to mention the inward supplies in respect of which he is not eligible for input tax credit. In FORM GSTR-2, eligibility will be determined at the invoice level.
 
• The registered person is also required to declare the quantum of ineligible input tax credit on inward supplies which is relatable to non-taxable supplies which cannot be determined at the invoice level in FORM GSTR-2. 

Who is Required to File GSTR-2?

  Every registered person is required to file GSTR-2 except: • Input Service Distributor • Non-residential taxable person • Person required to deduct the TDS or E-commerce operator person

How GSTR-2 is to be Filed?

GSTR-2 is to be filed in FORM GSTR-2 electronically through the Common Portal (www.gst.gov.in) either directly or through using services of GSPs or ASPs like Taxmann’s one solution.

Due Date for Filing of GSTR-2:

• GSTR-2 has to file on or before 15th of the following month. But GIC decides to extend the due date of filing of GSTR-2 for month of July and August, 2017 to Sept 25, 2017 and Oct 10, 2017 respectively.

Penalty for Non-Furnishing of Return:

A penalty of Rs.100 per day is applicable for late filing of GST return under both CGST and SGST Act. The penalty would be payable for the period in which the taxpayer has failed to furnish the return. The maximum penalty would be up to a maximum of Rs.5000.

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