Goods and Services Tax (GST) compliance in India involves filing various returns, with GSTR-1, GSTR-2, and GSTR-3B being crucial for businesses. These returns help in reporting sales, purchases, and tax liabilities, ensuring a smooth Input Tax Credit (ITC) mechanism.

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What is GSTR-1?

GSTR-1 is a monthly or quarterly return that businesses file to report their outward supplies (sales). It includes details of invoices, debit/credit notes, and taxable sales transactions.

Key Points about GSTR-1:

• Who should file? All registered taxpayers except composition dealers and input service distributors.
• Due date:
  • Monthly: 11th of the following month (for businesses with turnover above ₹5 crores).
  • Quarterly: 13th of the month following the quarter (for businesses under QRMP scheme).
• Details required:
  • B2B (Business-to-Business) and B2C (Business-to-Consumer) invoices.
  • Export sales and tax liability.
  • Amendments to previous returns.

Importance of GSTR-1:

• Helps in ITC claims for buyers.
• Facilitates accurate tax calculations.
• Ensures compliance with GST regulations.

What is GSTR-2?

GSTR-2 was designed to report inward supplies (purchases), but its filing has been suspended since GST implementation. Initially, it was meant to help businesses claim ITC based on supplier invoices reported in GSTR-1.

Why was GSTR-2 Suspended?

• The GST Council found it cumbersome and complicated.
• Instead, GSTR-2A and GSTR-2B auto-generated statements now help businesses verify their ITC.

Alternatives to GSTR-2:

• GSTR-2A: A dynamic statement that updates based on supplier invoices. GST Course in Delhi
• GSTR-2B: A static ITC statement available monthly for better accuracy in tax filing.

What is GSTR-3B?

GSTR-3B is a summary return that businesses must file monthly to declare their total sales, tax liability, and ITC claims.

Key Points about GSTR-3B:

• Who should file? Every GST-registered business (except composition dealers).
• Due date:
  • 20th of the following month (for businesses above ₹5 crores turnover).
  • 22nd/24th of the following month (for QRMP scheme businesses).
• Details required:
  • Total taxable sales.
  • Input Tax Credit available and utilized.
  • GST liability and payment status.

Why is GSTR-3B Important?

• Ensures timely tax payment.
• Prevents penalties and interest on delayed filings.
• Helps businesses track their GST liabilities efficiently.

Practical GST Course by SLA Consultants India, New Delhi

Understanding GSTR-1, GSTR-2, and GSTR-3B: A Complete Guide, Get Practical GST Course by SLA Consultants India, New Delhi,

For those looking to master GST compliance, SLA Consultants India offers a Practical GST Training Institute in Delhi that covers:

• Filing GSTR-1, GSTR-2A, GSTR-3B, and annual returns
• GST registration and compliance
• ITC reconciliation and GST audits
• Use of Tally & GST portals for real-time filing
• Live case studies and hands-on training

Who Should Join?

• Accountants and finance professionals.
• Business owners and entrepreneurs.
• Commerce students and tax practitioners.

Why Choose SLA Consultants India?

• Industry-expert trainers.
• Practical, job-oriented training.
• Certification and placement assistance.

Master GST filing with practical training and boost your career in taxation! Want details on course fees, duration, or enrollment?

SLA Consultants Understanding GSTR-1, GSTR-2, and GSTR-3B: A Complete Guide, Get Practical GST Course by SLA Consultants India, New Delhi, details with New Year Offer 2025 are available at the link below:

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