CMA Final · Indirect Tax Laws and Practice · Walkthrough of GSTN Portal
Which of the following statements about the GST portal's Form GSTR-2B is correct?
GSTR-2B is a static, read-only auto-drafted statement of input tax credit generated monthly from the details that suppliers and the ISD furnish in their returns. It cannot be edited or filed by the recipient and is not generated for composition taxpayers.
- AIt is an editable return that the recipient can modify before filing GSTR-3B
- BIt is a static auto-drafted ITC statement generated for each month from details furnished by suppliersCorrect
- CIt is generated only for composition taxpayers
- DIt is filed by the recipient on or before the 20th of the next month
Explanation
GSTR-2B is a static, read-only, auto-drafted statement of ITC available for a tax period, built from suppliers' GSTR-1, 5 and 6 and other documents. It is not filed or edited, and it is generated for regular taxpayers, not composition persons, so the other options are wrong.
Did you get it right without looking?
One question tells you little. A timed set on Walkthrough of GSTN Portal shows your real accuracy, how long you take and where you lose marks.
More Walkthrough of GSTN Portal questions
- Nair Pharma's GSTR-3B for a month shows tax liability of Rs 3,00,000 (all CGST/SGST/IGST combined). Its electronic credit ledger permits uti…
- On the GST portal, a registered taxpayer wants to see which of his purchase invoices uploaded by suppliers in their GSTR-1 have flowed to hi…
- A taxpayer on the GST portal wants to track the status of an application for refund filed in Form GST RFD-01. Which facility lets the taxpay…
- Patel Engineering has Rs 5,00,000 in its electronic cash ledger and, on the portal, notices that a demand order has been raised against it. …
- A taxpayer files Form GSTR-3B for a month showing a tax liability. Which of the following correctly describes the position regarding the ele…
- Which statement about the electronic cash ledger on the GST portal is correct?