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Published on:
February 23, 2023
By
Prudhvi Raj

GST Advisory: GSTR 2 Downloaded Json  Exported Excel Guidelines Explained

As a small or medium business owner or startup founder in India, it's crucial to stay up-to-date with changes in the Goods and Services Tax (GST) system. One such update is the advisory on GSTR 2 downloaded json  exported excel. If you're not familiar with these terms, don't worry. This article will explain everything you need to know.

Summary

The advisory on GSTR 2 downloaded json  exported excel is a notification from the GST authorities regarding the use of these formats for filing GST returns. The advisory lays out the guidelines for using these formats and the potential issues businesses may face if they don't comply.

Category

Taxation

Sub-Category

GST

Slug

gst-advisory-gstr-2-downloaded-json-exported-excel

Title

GST Advisory: GSTR 2 Downloaded Json  Exported Excel Guidelines Explained

What is GSTR 2?

GSTR 2 is a monthly return form that businesses registered under GST must file. It contains information about all the purchases made by the business during the month, including details about the suppliers and the amount paid. The GSTR 2 return is used to claim input tax credit (ITC) for the purchases made. GSTR 2 must be filed by the 15th of the month following the month for which the return is being filed.

What is downloaded json?

Downloaded json is a format in which the GSTR 2 data can be downloaded from the GST portal. This format is used by businesses to verify the data that has been uploaded to the portal by their suppliers. The downloaded json file contains all the details of the invoices uploaded by the suppliers, such as invoice number, date, and amount. Businesses can use this file to reconcile their purchase data with the data uploaded by their suppliers.

What is exported excel?

Exported excel is another format in which businesses can view and verify their GSTR 2 data. This format is similar to downloaded json, but the data is presented in an excel sheet instead of a json file. Exported excel is a more user-friendly format and is preferred by many businesses.

What is the advisory on GSTR 2 downloaded json  exported excel?

The advisory on GSTR 2 downloaded json  exported excel is a notification issued by the GST authorities regarding the use of these formats for filing GSTR 2 returns. The advisory lays out the guidelines for using these formats and the potential issues businesses may face if they don't comply.

Guidelines for using GSTR 2 downloaded json  exported excel

1. Use only the latest version of the downloaded json  exported excel formats

The GST authorities may update the format of the downloaded json  exported excel files from time to time. Businesses must ensure that they are using the latest version of these formats to avoid any issues while filing their GSTR 2 returns.

2. Match the data in the downloaded json  exported excel files with your purchase data

Businesses must ensure that the data in the downloaded json  exported excel files matches their purchase data. Any discrepancies must be rectified before filing the GSTR 2 return to avoid any penalty or interest.

3. Rectify errors before filing the GSTR 2 return

If there are any errors in the downloaded json  exported excel files, businesses must rectify them before filing the GSTR 2 return. The GST authorities will not accept returns that contain errors, and businesses may face penalties or interest for filing incorrect returns.

4. Keep a record of all the downloaded json  exported excel files

Businesses must keep a record of all the downloaded json  exported excel files used for filing their GSTR 2 returns. This record must be kept for a minimum of 6 years and must be produced when required by the GST authorities.

Conclusion

The advisory on GSTR 2 downloaded json  exported excel is an important update that businesses registered under GST must be aware of. By following the guidelines laid out in the advisory, businesses can avoid any issues while filing their GSTR 2 returns and ensure compliance with the GST laws.

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