Difference Between GSTR-1, GSTR-2, and GSTR-3B, Get Practical GST Course in Delhi, 110072, by SLA Consultants India, New Delhi

GSTR-1, GSTR-2, and GSTR-3B are essential forms under the Goods and Services Tax (GST) system in India. They help in the filing and reconciliation of tax returns by businesses. Below is an explanation of each, highlighting their key differences:

Difference Between GSTR-1, GSTR-2, and GSTR-3B,  Get Practical GST Course in Delhi, 110072, by SLA Consultants India, New Delhi

1. GSTR-1 (Outward Supplies):

GSTR-1 is a return that businesses need to file for reporting their outward supplies, i.e., the sales of goods or services. It must be filed by all GST-registered businesses except those under the composition scheme. The primary purpose of GSTR-1 is to declare sales transactions, including details of invoices, credit and debit notes, and other related documents.

Key Features:

• Reports details of all outward supplies made during the tax period.

• Contains information about sales, exports, and interstate transactions.

• Must be filed monthly for businesses with turnover exceeding Rs. 5 Crore or quarterly for others under the QRMP (Quarterly Return Monthly Payment) scheme.

2. GSTR-2 (Inward Supplies):

GSTR-2 was previously meant for reporting inward supplies (purchases) and would automatically populate from the data filed in GSTR-1 by the supplier. However, the filing of GSTR-2 was suspended in 2017, and the return is currently not required. This was to simplify the process and avoid issues with mismatches between inward and outward supplies, as the government introduced the GSTR-2A and GSTR-2B to auto-populate the data for the taxpayers.

Key Features (before suspension):

• Reported purchases or inward supplies.

• Allowed taxpayers to claim input tax credit (ITC).

• Auto-populated data from GSTR-1 of suppliers.

3. GSTR-3B (Summary Return):

GSTR-3B is a self-assessed summary return that businesses file monthly or quarterly (depending on turnover). It is used for reporting the summary of outward supplies, inward supplies, and claiming input tax credit (ITC). Unlike GSTR-1, which provides detailed transactional data, GSTR-3B is a consolidated form of monthly or quarterly reporting. It is a crucial document for tax payment purposes.

Key Features:

• Filed on a monthly or quarterly basis (for QRMP scheme).

• Includes summary of sales, purchases, tax paid, ITC claimed, and tax payable.

• Businesses use this form to pay the GST liability.

• GSTR-3B does not require detailed invoice-level reporting like GSTR-1.

  Difference Between GSTR-1, GSTR-2, and GSTR-3B,  Get Practical GST Course in Delhi, 110072, by SLA Consultants India, New Delhi

Practical GST Course in Delhi, 110072 by SLA Consultants India:

If you're looking to gain practical knowledge of GST and its applications, SLA Consultants India in New Delhi offers an in-depth GST Course in Delhi. This course is designed to provide hands-on experience with GST filing, including the preparation and submission of forms like GSTR-1, GSTR-2A, GSTR-3B, and reconciliation of GST returns. The course is ideal for accounting professionals, business owners, and anyone looking to enhance their expertise in GST compliance and tax laws. It covers topics like GST registration, tax computation, filing returns, and resolving common GST-related issues.

The course in New Delhi (110072) is suitable for individuals seeking career advancement in accounting and taxation. Upon completion, you will be well-versed in GST return filing processes and the practical implications for businesses.

For more information, you can visit SLA Consultants India's website or contact them directly to learn about course fees, schedules, and enrollment.

SLA Consultants Difference Between GSTR-1, GSTR-2, and GSTR-3B,  Get Practical GST Course in Delhi, 110072, by SLA Consultants India, New Delhi Details with "New Year Offer 2025" are available at the link below:

https://www.slaconsultantsindia.com/certification-course-gst-training-institute.aspx

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