Multi-month GSTR-2A Report: Importance and Uses
Every taxpayer under GST shall download Multi-month GSTR 2A periodically. This helps in doing regular reconciliation process to claim accurate Input Tax Credit together with errorless GST Return filing.
This article covers the following topics:
GSTR 2A is GST Return that auto-populates when the supplier files his GSTR 1. Furthermore, GSTR 2A consolidates all the purchase that you have made by a particular supplier. In addition to this, you can download GSTR 2A from the GST Portal on any day after the due date of GSTR 1.
GSTR-2A is the summarized data of the supplier that can be downloaded in excel format from the GST portal.
Here are the two important use of multi-month GSTR 2A Report:
Helps in Claiming Accurate Input Tax Credit
Multi-month GSTR 2A Reconciliation with Purchase register helps in claiming accurate Input Tax Credit. However, the interval of filing GSTR 1 varies from a taxpayer to the taxpayer as it can be either filled monthly or quarterly. Further, this may sometimes lead to a delay in the reconciliation process.
Cross-validating the Input Tax Credit Amount
Reconciliation between GSTR 2A and GSTR 3B help the taxpayer in cross-validating the amount of ITC that is intended to be availed in GSTR 3B. Moreover, this ensures that there is no discrepancy in the details of GSTR 3B and GSTR 2A. This, in turn, helps in avoiding notices from the authorities that he may get for any mismatch.
Masters India GST Software, autoTax helps ensures that you can import and download GST data easily so as to prepare error-free GST Returns.
Through autoTax GST Software a taxpayer can furnish data to prepare GSTR 1, GSTR 3B or GSTR 4 within a few minutes. Further, it can easily integrate with all the leading ERPs that helps error-less filing of GST Returns.
Furthermore, using Multi-month option a taxpayer can easily view or download Multi-month GSTR-2A data with a single click from the GST portal. The Reconciliation tool presents in autoTax GST software help you to reconcile your inward supplies with GSTR-2A. This, in turn, helps the taxpayer to identify the precise difference to make necessary changes in GSTR-3B.
Thus, by using autoTax GST software one can easily dodge errors and ascertain 100% accurate data as there will be less human intervention.
Moreover, autoTax GST Software also supports “Reports” that helps a taxpayer to see the inside out data of GST Return at one glance.
The pros of Multi-month GSTR 2A Report using autoTax are:
- Single click to Import GSTR-2A Data from GST portal
- You can apply filters to sort GSTR 2A data such as Invoice number or month range
- Consolidated view of the GSTR 2A data that is sorted