GSTR2B -BOOK/ RETURN ADJUSTMENT

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382 Points Joined June 2021

GSTR2B shows an amount but we took higher ITC till February but taking a lower ITC in March to knock off it and neutralize it.

Further, if we make a book adjustment but not getting it reflected in Return , whether all these are okay lawfully 

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On 25 April 2025 at 18:10 Report
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Master in Accounts & high court Advocate
8821 Points Joined December 2011

GSTR-2B and ITC Reconciliation - *GSTR-2B*: This is an auto-drafted statement that provides details of inward supplies for a tax period, based on GSTR-1/IFF filed by suppliers. - *ITC Reconciliation*: If GSTR-2B shows an amount but you've taken higher ITC till February and lower ITC in March to neutralize it, ensure that your ITC claims are accurate and compliant with GST laws. Lawfulness of Book Adjustments - *Book Adjustments*: If you've made book adjustments that aren't reflected in your GST returns, it's essential to ensure these adjustments are lawful and compliant with GST regulations. - *GST Return Accuracy*: GST returns should accurately reflect your business transactions, incxluding ITC claims. Key Considerations - *GST Law Compli12ance*: Ensure that your ITC claims and book adjustments comply with GST laws and regulations. -

 *Reconciliation*: Regularly reconcile your ITC claims with GSTR-2B to avoid any discrepancies or potential penalties. - *Return Amendments*: If you've made errors in your GST returns, consider filing amendments to correct these errors. Recommendations -

*Consult a GST Professional*: Consider consulting a GST professional to ensure compliance with GST laws and regulations. -

 *Regularly Review GST Returns*: Regularly review your GST returns to ensure accuracy and compliance. -

 *Maintain Proper Records*: Maintain proper records of your transactions, including book adjustments, to support your GST returns and ITC claims [3].

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On 27 April 2025 at 21:55


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