In this post, we will learn about GSTR 2. We will cover the following topics:
Important note: The facility of filing GSTR 2 is temporarily suspended until any further notice
What is the meaning of GSTR 2?
Every registered taxable person has to furnish details of purchases or inward supplies for a tax period in GSTR-2.
Who will file GSTR-2?
Every registered person needs to file GSTR-2 regardless of whether there are any transactions during that particular month or not.
However, the following type of registered dealers are exempted from filing GSTR 2 –
- Input Service Distributors (ISD)
- Composition Dealers
- Non-residential taxable persons
- Persons who are liable to collect TCS
- Persons required to deduct TDS or E-commerce operators
GSTR-2 due date
- The due date for filing GSTR-2 is 15th of the following month.
- To correct any errors you have a 5-day gap in between GSTR-1 and GSTR-2 filing.
GSTR-2 Late fees and Penalty
- A penalty of Rs.100 per day is applicable in case of late filing of GST return under both CGST and SGST Act.
- The penalty would be payable for the period in which the taxpayer in case of failure to file the return.
- The maximum penalty would be up to Rs.5000.
Related: How to file GSTR-2 through Saral GST