Start Reconciling GSTR-2A for FY 2019-20
- Last date to rectify mistakes in terms of Non Availment/ Excess Availment of ITC or ITC reversal for FY 2019-20 is 20.10.2020
- GSTR 2A means a statement of Input Tax credit and we need not file GSTR 2A legally. Hence there is no concept of due date for GSTR2A
- Unless supplier has reported the supply in his GSTR-1 i.e. reflected in GSTR-2A of the recipient, it may not be considered as actually paid to the Government, hence it would be difficult for the recipient to justify the ITC so claimed
- Section 42(5) of Central GST Act, 2017, cast responsibility on recipient to ensure that ITC claimed by him is being properly reported by the supplier.
- Recipient must ensure that all ITC claimed by him is properly reflected in his GSTR-2A.
- In case of any discrepancies found, same should be promptly communicated to supplier so that he can report the same in his coming GSTR-1.
- If credit for a particular invoice/ invoices is not reflecting in GSTR-2A, the recipient can claim only 20% of the ITC not reflected.