Learn how to view GSTR 2A, a summary of all purchases made, on the GST portal and reconcile details for GST compliance to avoid penalties.
GST, also known as the Goods and Services Tax, is a single indirect tax that replaces multiple indirect taxes in India. To ensure compliance with the GST Act, taxpayers must file various returns such as GSTR 1, GSTR 2, GSTR 3, and others on the GST Portal.
One of the important returns in the GST regime is GSTR 2 A, which is an auto-generated return that contains details of all inward supplies received from registered taxpayers. This article will discuss the steps to view GSTR 2A on the GST Portal.
Overview of GSTR 2A
It is an important document for all GST-registered businesses in India. It is a pre-filled return that contains details of all the purchases made by a business in a given tax period. It is automatically generated by the GST portal based on the invoices uploaded by the suppliers.
This means that the return contains all the transactions a business has carried out with its suppliers, including the invoice date, invoice value, and GST amount. It is an important document as it helps businesses to reconcile their purchases and ensure that they comply with the GST laws.
Procedure to View GSTR 2A on the GST Portal
Step 1: Login to the GST Portal
The first step is to log in to the portal using your user ID and password. If you do not have an account, you can create one by following the steps provided on the portal.
Step 2: Navigate to the Section
Once you have logged in to the GST Portal, navigate to the ‘Returns Dashboard’ section and select the ‘Financial Year’ and the ‘Return Filing Period’ for which you want to view GSTR 2 A.
Step 3: View the Details
You will see the ‘View GSTR 2A’ option in the’ Returns Dashboard’ section. Click on this option to view the details of the inward supplies received from registered taxpayers.
Step 4: Verify the Details
It is important to verify the details as it contains important information regarding inward supplies you receive. You can verify the details such as the GSTIN of the supplier, invoice number, invoice date, taxable value, GST rate, and others.
Step 5: Update the Details
If you find any discrepancy in the details, you can update the details by clicking on the ‘Update’ button. You can also provide a reason for the discrepancy and submit the updated details to the GST Portal.
Step 6: Submit GSTR 2
After verifying and updating the details, the next step is to submit GSTR 2. This return contains the details of inward supplies received and the liability of GST on these supplies. You can submit GSTR 2 by clicking on the ‘Prepare Online’ button in the GSTR 2 section on the GST Portal.
Step 7: File GSTR 2
Once you have prepared GSTR 2, the next step is to file it on the GST Portal. You can file GSTR 2 by clicking on the ‘File Returns’ button in the GSTR 2 section.
Important Points to Remember While Viewing GSTR 2A
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GSTR 2A Is a Pre-filled Return, but It Is Not Final
It is important to remember that the return is pre-filled and not a final document. This means that the details in it may only sometimes be accurate, and you may need to change the details. It is important to reconcile the details in the form with your records and resolve any discrepancies with your suppliers.
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GSTR 2A Is Updated Regularly
The GST portal updates the details regularly. This means that you may need to view it multiple times in a given tax period to ensure that you have the most up-to-date information.
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You Can Claim Input Tax Credit Only for Invoices That Have Been Marked as ‘Accepted’ in GSTR 2A
It is important to remember that you can claim input tax credit only for invoices that have been marked as ‘Accepted’ in GSTR 2A. If you have marked an invoice as ‘Rejected’, you will not be able to claim input tax credit for that invoice.
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GSTR 2A Is an Important Document for GST Compliance
It is an important document for GST compliance. By viewing it and reconciling the details with your records, you can ensure that you comply with the GST laws and avoid penalties or fines.
Conclusion
It is an important GST return containing details of inward supplies received from registered taxpayers. By viewing and verifying its details, taxpayers can ensure compliance with the GST Act and avoid penalties or fines.
The process of viewing it on the GST Portal is simple and can be completed in a few steps. By following the steps provided in this article, you can easily view and verify the details on the GST Portal.
Vakilsearch can provide comprehensive support throughout the GST registration process, ensuring compliance with legal and regulatory requirements and helping clients achieve their goals using GST.
