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GSTR 2A consists of the receiver’s details automatically generated from GSTR 1 which contains details of supplies made by your suppliers. Receivers’ details will be provided when returns are filled while Operating from GSTR 5 (non-resident taxable person), GSTR 6 (ISD), GSTR 7 (TDS Deduction), GSTR 8 (collected by TCS e-commerce) will be auto generated.
Parts List of GSTR-2A
GSTR-2A is a statement of tax liability, collection, and payment that details inbound supplies related to a particular heac order associated with the taxpayer. It includes limbs that meet subdivisions relevant to the taxpayer’s supplies. As for each limb, it includes the body which explains in detail each section:
Breakdown Of GSTR-2A by Parts
Part | Definition |
Part A | Registered Taxpayers’ Supplied This part gives a summary of the inbound supplies supplied by the registered suppliers for onward taxation. It reports the following items:
|
Part B | Acquisitions subject toReverse Charge Supplied Covers purchase for which the recipient is responsible for remitting the tax under the reverse charge. Like Part A, it reports similar particulars, but this one Reverse Charge Transactions only. |
Part C | CREDIT/DEBIT NOTE CAPTURE IN Relates any credits or debits held by the suppliers relative to the input tax credit. It concerns Transactions which relate for the initial references invoices of changes. |
Part D | ISD (Input Service Distributor) Details Relates to the input tax credit granted through ISD, showing the ISD invoices’ branch purchased. |
Although both GSTR-2A and GSTR-2B have been designed to report information on inward supplies, they have the unifying features;
Feature | GSTR-2A | GSTR-2B |
Type | Flexible, modified continuously with the filing of GSTR-1 returns by suppliers. | Fixed, created on the 12th of every month, based on supplier’s filings before that date. |
Source of data | Combines data of GSTR-1, GSTR-5, GSTR-6, GSTR-7, and GSTR-8 | Mainly drawn from GSTR-1 and GSTR-5 only, does not capture deductions for TDS/TCS |
Purpose | Delivers an all encompassing view of data pertaining to purchases for reconciliation processes. | Aids in the reconciliation of ITC as stipulated in Rule 36(4) and ascertaining compliant/non-compliant vendors. |
Update Frequency | Evolves in accordance with the filing of invoices by suppliers and their suppliers. | Does not evolve dynamically; holds data retrospective of the cut-off date (12th). |
GSTR-2A forms itself based on GSTR-1 submissions by suppliers, this enables the refectory functioning. Data in sellers’ books gets updated as sales are recorded. Enabled data verification where invoices and records can be checked including several ITC claims confirmations.Significance of Reconciliation
As with other steps in GST compliance, it is necessary to perform a reconciliation of purchase data with GSTR-2A.
Claiming Input Tax Credit (ITC) Needs to be Done Precisely:
Guaranteeing Supplier Compliance
Avoiding Future Disputes
Enhancing Business Cash Flow
Streamlining the GST Filing Process
First step: Downloading GSTR 2A
With the latest release of TallyPrime, users can now do seamless reconciliation of GSTR-2A and GSTR-2B.
Second step: Uploading to TallyPrime
Navigate to the relevant report section in TallyPrime.
Import the data from the downloaded file into the software.
In TallyPrime 9, invoices will be sorted into the following categories:
The last step involves fixing any incorrect invoices.
A contracted vendor who is a registered taxable person may resolve any inconsistencies found in invoices that are only in the books or in the portal by communicating with the suppliers or capturing the relevant purchase invoices in the company’s ledger.
The TallyPrime 5.1 comes with an auto loaded GST connected experience that allows dealing with numerous GST activities right even from TallyPrime, including the invoicing, return filing, data reconciliation, and many others. These processes have traditionally required the use of standalone desktop applications. Here’s a glimpse of the TallyPrime features that you will love:
Don’t miss the details for the forthcoming TallyPrime Release 6.0!
Claiming Back GST on Business Expenses, Types of Claiming Back GST on business Expenses, New Claiming Back GST on business Returns & Forms, Simplified Claiming Back GST Returns, Easy Claiming Back GST Returns, Ordinary Claiming Back GST Returns, Gearing-systemed GST claiming return, Installments Gearing-systemed GST claiming return, Commanded GST commanding returns.
List of GST:
List of GST, Types of Classification of GST, Claiming Back GST from operational Currency transactions and Investment currency transactions, Drawing communication’s currency transactions and Mercury commanding transactions in Claiming Current Communication Detachment’s Mechanics
GST Tools and Services
GST Software, GST E Commerce Applications, GST on Freight Calculators, Ecommerce Tools, GST and TCS, GST Rates and TDS Impact , Reverse Charge Mechanism on Goods and Services Tax, GST Filing, GST Compliance and Control, Document Control and Compliance Regulations regarding Goods and Services Tax
Types of GST
Subunit of Tax – Centrally Provided Goods and Services Tax , Divisional Goods and Services Tax, Inter-Governmental Goods and Services Tax, United Territory Goods and Services Tax, Differences between Divisional Goods and Services Tax and Central Provided Goods and Services Tax and Inter-governmental Goods and Services Tax
Charge and Rates of Goods and Services Tax
Goods and Services Tax Charge, Goods and Services Tax with other charges, Users Charge’, Relief’, HSN Codes, Service Account Code or SAC Codes and Regional or State Codes designated for Goods and Services Tax
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