The Goods and Services Tax Network (GSTN) has released an important advisory regarding the generation of GSTR-2B and its relation to the Invoice Matching System (IMS). Some taxpayers reported that their GSTR-2B for October 2024 was not generated on 14th November 2024. To clarify, GSTN has outlined specific scenarios where GSTR-2B will not be generated automatically:
Scenarios Where GSTR-2B Will Not Be Generated
- Quarterly Filers:
- Taxpayers who have opted for quarterly return filing will not receive GSTR-2B for the first and second months of the quarter.
- Example: For the October-December 2024 quarter, GSTR-2B will only be available for December 2024, while it will not be generated for October and November 2024.
- Non-Filing of GSTR-3B:
- If a taxpayer has not filed their previous period GSTR-3B, the system will not generate GSTR-2B for the following period.
- Example: If a taxpayer has not filed GSTR-3B for September 2024, their GSTR-2B for October 2024 will not be generated.
- Once the pending GSTR-3B is filed, the taxpayer can generate GSTR-2B on demand by clicking the ‘Compute GSTR-2B (OCT 2024)’ button on the IMS dashboard.
Key Takeaways for Taxpayers
- Ensure timely filing of GSTR-3B to avoid disruptions in GSTR-2B generation.
- Quarterly filers should be aware that GSTR-2B will only be available for the last month of the quarter.
- The IMS system is designed to ensure compliance, and taxpayers should keep track of their filings to avoid issues with input tax credit claims.
For more updates and assistance, taxpayers are advised to consult tax professionals to stay compliant with GST regulations.