The Central Board of Indirect tax and Customs (CBIC) issued eight notifications on 10 November 2020 notifying changes in the Central Goods and Service tax (CGST) Act, 2017 and the CGST Rules, 2017.
The proposed changes are to be introduced from 1 January 2021.
Notification 82/2020 – Central Tax dated 10 November 2020
Amended Rules 59, 60 and 61 have been notified to be introduced in the CGST Rules. A new Form GSTR-2B (Auto Drafted Input Tax Credit Statement) has also been notified with the following salient features:
GSTR-2B will be generated basis of the information furnished by supplier in their respective Forms GSTR-1, 5 and 6, as applicable and will be made available to the taxpayer.
GSTR-2B will be a static form made available every month, with data auto populated from information received from the due date of the GSTR- 1 for the previous month till the due date of GSTR-1 of the month of the current month.
The form will be available after the GSTR-1 is furnished by the outbound supplier for the current month.
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