GSTR-2 filing

Form GSTR 2 is a statement in which a regular dealer needs to capture all the inward supplies made during the month.After filing GSTR-1 for a particular month,GSTR-2 must be filed for the same month.
GSTR-2 must must be filed including all your purchase and expense transaction in that particular month.
Every business registered under GST will have to file GSTR-2 irrespective of whether there are any transactions during the month or not.

Exempted list from GSTR-1
  • Input Service Distributors
  • Composition Dealers
  • Non-resident taxable person
  • Persons liable to collect TCS
  • Persons liable to deduct TDS
  • Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)
How to generate GSTR-2 in Output Books?
  • You can find the list of details of Inward Supplies(Purchase) under Reports>GSTR-2.
  • Entire details of all the Purchase Transaction is listed here.

Here,you can view GSTR-2 return for a month or quarter year by using the drop down at the top.
You can take a GSTR-2 report for the desired/required month using the calendar option associated in the reports page of GSTR-2.
You can print the GSTR-2 report by using Printoption at the top right corner.

Due Dates

For business’ with turnover less than 1.5 crores, quarterly returns are applicable whose due dates will be announced later.
Businesses with annual turnover up to 1.5 crores will have to submit quarterly returns. Taxes must be paid quarterly.
Due dates of Aug & Sep will be declared later by the government.
For correcting any errors and discrepancies,government has alloted 5 days gap between GSTR-1 and GSTR-2 filing.

GSTR-2 Rectification

Careful filing of GSTR-2 is necessary.Once it is filed,cannot be revised.If we commit any mistake in the return,it can be revised in the next month’s return. It means that if a mistake is committed in September GSTR 2, rectification for the same can be made in October’s GSTR 2.

Late Fees and Penalty

If GSTR-2 is not filed on or before the due date,

  • You cannot file GSTR_3
  • You will be liable to pay Late fee and high penalty.

The fine for filing the return late is Rs.Rs. 200/day of delay after the due date( Rs.100 under CGST act & Rs.100 under SGST act).
There is no late fee on IGST.