How to File GSTR 3B | How to Generate GSTR 2B | All New GST Return System | IMS | GSTR 2B errors

Summary

The video discusses the recent challenges faced by GST taxpayers, particularly with generating GSTR 2B and filing GSTR 3B due to the new IMS (Invoice Management System) dashboard. Key issues include difficulties in invoice acceptance, data duplication, and discrepancies in auto-populated tax credits. The video provides step-by-step guidance on how to manually resolve these issues by taking action on invoices and generating GSTR 2B correctly. Additionally, it addresses the possibility of filing deadline extensions and offers tips for managing Input Tax Credit (ITC) claims. Viewers are encouraged to share the video and stay updated with the latest GST developments.

Takeaways

• 😀 The introduction of the new IMS (Invoice Management System) dashboard has caused issues for GST return filers, especially with the generation of GSTR-2B.
• 😀 Taxpayers now have the option to accept, reject, or mark invoices as pending in GSTR-2B, leading to complications with the data.
• 😀 GSTR-2B is sometimes showing duplicate invoices from previous months, including those from November 2024, causing confusion.
• 😀 A significant problem arises when taxpayers file GSTR-3B and their GSTR-2B data is deleted, resulting in notices for claiming excess input tax credit (ITC).
• 😀 There are concerns about whether the deadline for filing GSTR-3B will be extended due to these issues, but currently, no official extension is announced.
• 😀 Taxpayers who have not filed their GSTR-3B for the previous month must resolve the pending returns before generating the new GSTR-2B.
• 😀 QRMP scheme taxpayers' GSTR-2B for M1 and M2 months will only reflect for the quarter-end period, not for individual months.
• 😀 GSTR-2B data can be generated manually by clicking on the 'Compute 2B' button after resolving invoice discrepancies on the IMS dashboard.
• 😀 In case of more than 500 invoices, taxpayers face challenges as there is no tool to download data in Excel and re-upload it for reconciliation in IMS.
• 😀 While taxpayers can still file their returns by manually correcting ITC data in GSTR-3B, there is no official solution yet for the errors caused by IMS integration.

Q & A

What is the main problem facing taxpayers regarding GST filing for October?

The main issue is related to the new IMS dashboard, which has introduced a feature allowing taxpayers to accept, reject, or pend invoices in GSTR-2B. This has caused issues with duplicate invoices and missing data, complicating the filing process.

What issues are arising with the generation of GSTR-2B?

Some taxpayers are unable to generate GSTR-2B due to errors with the IMS dashboard. Additionally, invoices from previous months are showing up again, leading to discrepancies in the claimed ITC (Input Tax Credit).

Why is the data in GSTR-2B disappearing after filing GSTR-3B?

After filing GSTR-3B and claiming ITC, the data in GSTR-2B sometimes gets deleted, causing a mismatch between the claimed ITC and the actual data, leading to notices for discrepancies.

What should taxpayers do if their GSTR-2B is not being generated?

If GSTR-2B is not being generated, taxpayers should ensure that they take action on invoices in the IMS dashboard. They can accept, reject, or pend invoices and then click the 'Compute 2B' button to generate the GSTR-2B.

What is the IMS dashboard and how does it impact GSTR-2B generation?

The IMS (Invoice Management System) dashboard is a tool that helps taxpayers manage invoices for GSTR filing. It allows users to take actions like accepting, rejecting, or pending invoices, which can affect the data in GSTR-2B and cause discrepancies if not handled properly.

How can taxpayers generate GSTR-2B if it is not reflecting correctly?

Taxpayers can log into the IMS dashboard, go to the 'Invoice Management' section, take action on their invoices, and then click 'Compute 2B' to generate the updated GSTR-2B.

What should a taxpayer do if they encounter errors in their GSTR-3B after filing?

If there are errors in GSTR-3B, especially regarding ITC claims, taxpayers should double-check the auto-populated data from GSTR-2B in Table 4A. They must ensure that the correct ITC is being claimed according to their books.

Are there any updates regarding the issues with duplicate invoices in GSTR-2B?

Yes, the government has acknowledged the issue of duplicate invoices appearing in GSTR-2B for September and October. A solution for this problem is expected to be implemented soon.

What should taxpayers do if their GSTR-2B has more than 500 invoices and they cannot take action on them?

If taxpayers have over 500 invoices and cannot take action in the IMS dashboard, they are advised to wait as the system is new and ongoing improvements are being made based on user feedback.

Will the deadline for filing GSTR-3B be extended due to the current issues?

Currently, there is no official confirmation about an extension for the GSTR-3B filing deadline. However, taxpayers should file their returns on time based on the correct ITC data available to them.