GST R 2
This query is : Resolved
21 October 2017
Dear Exparts,
in GSTR 2 What is means of Counter party submit status- No
21 October 2017
It means the other party has not submitted / filed his GSTR -1 yet.
27 July 2024
In the context of GST returns, specifically GSTR-2, the "Counter Party Submit Status - No" indicates that the supplier (the counterparty) has not submitted their GST details related to the invoice you have received. Here's a detailed explanation:
### **Understanding "Counter Party Submit Status - No"**
1. **Meaning:**
- **Counter Party Submit Status - No** means that the supplier has not submitted the invoice details in their GSTR-1 (or GSTR-1A) that match the purchase invoice details you have provided in your GSTR-2.
- It could also imply that the supplier has not filed their return, or the invoice details from their side have not been uploaded into the GST system yet.
2. **Implications for ITC:**
- **Input Tax Credit (ITC) Eligibility:**
- **If the Supplier Has Not Filed:** You generally cannot claim ITC on invoices where the supplier has not filed their details. ITC is dependent on the supplier's compliance in filing their returns and submitting the details.
- **Reconciliation:** Even though the supplier hasn't submitted the details, you should reconcile your purchase records with the supplier's submissions. If the supplier submits the details later, you can claim the ITC in the appropriate return period.
- **ITC Claim Process:**
- **Suspended ITC:** You may not be able to claim ITC for those transactions immediately where the "Counter Party Submit Status" is "No". ITC is usually available only after the supplier has uploaded their details in GSTR-1 and these details have been auto-populated in your GSTR-2A.
- **Follow-up:** Ensure to follow up with the supplier to ensure that they file their GSTR-1 and submit the necessary details.
3. **Action Steps:**
- **Verify with Supplier:** Contact the supplier to confirm that they have uploaded the invoice details. Sometimes there could be delays or errors in uploading.
- **Reconcile Records:** Check if the supplier eventually files the return. Once they do, and the details reflect in GSTR-2A, you can claim ITC.
- **Adjustments in Future Returns:** If you find that the supplier has filed details in subsequent months, you can claim the ITC in the return for the month when the details were eventually updated.
4. **Handling Missed ITC:**
- **Corrections:** If there are discrepancies or missed ITC due to the supplier’s non-submission, ensure to adjust the details in future returns or through amendments as required.
- **Documentation:** Maintain proper documentation to support your claims and to address any queries from tax authorities.
**References:**
- **Section 16 of the CGST Act, 2017:** This section deals with the eligibility and conditions for claiming ITC.
- **GSTR-2A:** This form provides a view of the ITC available based on the supplier's GSTR-1 filings.
Always ensure you are in compliance with the latest GST provisions and consult a GST professional if needed to handle complex scenarios related to ITC claims.
### **Understanding "Counter Party Submit Status - No"**
1. **Meaning:**
- **Counter Party Submit Status - No** means that the supplier has not submitted the invoice details in their GSTR-1 (or GSTR-1A) that match the purchase invoice details you have provided in your GSTR-2.
- It could also imply that the supplier has not filed their return, or the invoice details from their side have not been uploaded into the GST system yet.
2. **Implications for ITC:**
- **Input Tax Credit (ITC) Eligibility:**
- **If the Supplier Has Not Filed:** You generally cannot claim ITC on invoices where the supplier has not filed their details. ITC is dependent on the supplier's compliance in filing their returns and submitting the details.
- **Reconciliation:** Even though the supplier hasn't submitted the details, you should reconcile your purchase records with the supplier's submissions. If the supplier submits the details later, you can claim the ITC in the appropriate return period.
- **ITC Claim Process:**
- **Suspended ITC:** You may not be able to claim ITC for those transactions immediately where the "Counter Party Submit Status" is "No". ITC is usually available only after the supplier has uploaded their details in GSTR-1 and these details have been auto-populated in your GSTR-2A.
- **Follow-up:** Ensure to follow up with the supplier to ensure that they file their GSTR-1 and submit the necessary details.
3. **Action Steps:**
- **Verify with Supplier:** Contact the supplier to confirm that they have uploaded the invoice details. Sometimes there could be delays or errors in uploading.
- **Reconcile Records:** Check if the supplier eventually files the return. Once they do, and the details reflect in GSTR-2A, you can claim ITC.
- **Adjustments in Future Returns:** If you find that the supplier has filed details in subsequent months, you can claim the ITC in the return for the month when the details were eventually updated.
4. **Handling Missed ITC:**
- **Corrections:** If there are discrepancies or missed ITC due to the supplier’s non-submission, ensure to adjust the details in future returns or through amendments as required.
- **Documentation:** Maintain proper documentation to support your claims and to address any queries from tax authorities.
**References:**
- **Section 16 of the CGST Act, 2017:** This section deals with the eligibility and conditions for claiming ITC.
- **GSTR-2A:** This form provides a view of the ITC available based on the supplier's GSTR-1 filings.
Always ensure you are in compliance with the latest GST provisions and consult a GST professional if needed to handle complex scenarios related to ITC claims.
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