Difference Between GSTR-1, GSTR-2, and GSTR-3B, Get Practical GST Course in Delhi, 110032, by SLA Consultants India, New Delhi Full-time Job

Difference Between GSTR-1, GSTR-2, and GSTR-3B in GST

The Goods and Services Tax (GST) system in India is a comprehensive taxation structure that involves various types of returns, including GSTR-1, GSTR-2, and GSTR-3B. These returns play a crucial role in ensuring compliance and accurate reporting of transactions under GST. Here’s a breakdown of their differences:

Difference Between GSTR-1, GSTR-2, and GSTR-3B,  Get Practical GST Course in Delhi, 110032, by SLA Consultants India, New Delhi

1. GSTR-1:
   GSTR-1 is a monthly or quarterly return that businesses must file to report their outward supplies (sales). This includes the details of all sales made, including the GSTIN of the buyer, invoice number, date, taxable value, and the GST paid (CGST, SGST/UGST, IGST). GSTR-1 helps the GST authorities verify the proper flow of tax credits and matching of sales and purchases. The due date for filing GSTR-1 is generally the 11th of the following month.

2. GSTR-2:
   GSTR-2 was initially designed as a return for reporting the inward supplies (purchases) made by businesses. It captures details about the tax paid on purchases, reverse charge transactions, and other business-related procurements. However, the filing of GSTR-2 was suspended in 2017 due to technical issues and has not been implemented. In its place, businesses continue to report purchase-related data in GSTR-3B and GSTR-1, which are now used to claim input tax credit (ITC).

3. GSTR-3B:
   GSTR-3B is a monthly self-declaration return that businesses are required to file, wherein they report the summary of their outward and inward supplies. This return includes the total sales, purchases, output tax, input tax credit, and the net tax payable or refundable. Unlike GSTR-1, GSTR-3B is a summary return and provides a simplified format to report tax liability and pay taxes. The due date for GSTR-3B is generally the 20th of the following month.

   Difference Between GSTR-1, GSTR-2, and GSTR-3B,  Get Practical GST Course in Delhi, 110032, by SLA Consultants India, New Delhi

Practical GST Course in Delhi - SLA Consultants India

If you're looking to gain hands-on knowledge of GST and its applications, SLA Consultants India in New Delhi offers a Practical GST Course in Delhi. Located in the 110032 postal code area, the course covers all aspects of GST, including returns such as GSTR-1, GSTR-2, and GSTR-3B. The training is designed for professionals who want to understand the practical implementation of GST in real-world business scenarios.

The course includes practical exposure to GST compliance processes, filing returns, and troubleshooting common issues. The trainers at SLA Consultants India offer industry insights and ensure participants are well-versed with the latest updates in GST. Whether you're an accountant, business owner, or tax professional, this course is perfect for enhancing your GST knowledge and skills.

 

In conclusion, GSTR-1, GSTR-2, and GSTR-3B serve different purposes in the GST system, with GSTR-1 focusing on sales, GSTR-2 intended for purchases (though currently suspended), and GSTR-3B serving as a summary return for monthly tax filing and payments. Practical courses like those at SLA Consultants India help individuals better navigate these complexities.

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

https://slaconsultantsdelhi.in/gst-course-training-institute/

 

GST Training Courses

Module 1 - GST- Goods and Services Tax- By Chartered Accountant- (Indirect Tax)

Module 2 - Income Tax/TDS - By Chartered Accountant (Direct Tax)

Module 3 - Finalization of Balance sheet/ preparation of Financial Statement- By Chartered Accountant

Module 4 - Banking and Finance Instruments - By Chartered Accountant

Module 5 - Customs / Import and Export Procedures - By Chartered Accountant

 

Contact Us:

SLA Consultants India

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Call +91- 8700575874

E-Mail: hr@slaconsultantsindia.com

Website: https://www.slaconsultantsindia.com/

 

 

 

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