Understanding GSTR-1, GSTR-2, and GSTR-3B: A Complete Guide, Get Practical GST Course in Delhi, 110031, by SLA Consultants India, New Delhi

Understanding GSTR-1, GSTR-2, and GSTR-3B: A Complete Guide

GSTR-1, GSTR-2, and GSTR-3B are key GST returns in India, each serving a distinct compliance purpose. Here’s a concise guide to their functions, differences, and practical learning opportunities in Delhi with SLA Consultants India.

Understanding GSTR-1, GSTR-2, and GSTR-3B: A Complete Guide,  Get Practical GST Course in Delhi, 110031, by SLA Consultants India, New Delhi

GSTR-1: Outward Supplies Return

• GSTR-1 is a monthly or quarterly return that captures details of all outward supplies (sales) made by a business.

• Every registered taxpayer, except those under special schemes like the Composition Scheme, must file GSTR-1.

• It includes invoice-wise details of sales, debit/credit notes, and is crucial for passing input tax credit to buyers.

• Filing GSTR-1 accurately ensures that your buyers can claim the correct input tax credit and helps maintain compliance.

GSTR-2: Inward Supplies Return (Currently Suspended)

• GSTR-2 was originally designed to capture details of inward supplies (purchases) for a business.

• It would allow taxpayers to claim input tax credit based on their purchases.

• However, due to technical and practical challenges, GSTR-2 filing has been suspended by the government. Presently, businesses do not file GSTR-2, but should still maintain purchase records for reconciliation and compliance.

GSTR-3B: Monthly Summary Return

• GSTR-3B is a simplified monthly self-declaration summarizing outward supplies, input tax credit claimed, and net tax payable.

• It is mandatory for all regular taxpayers and must be filed even if there are no transactions in a period.

• GSTR-3B must be submitted before GSTR-1 for the same period, and timely filing is essential to avoid penalties and interest.

• The GST portal provides tools to reconcile GSTR-1 and GSTR-3B, ensuring accuracy and consistency in tax reporting.

SLA Consultants India, based in New Delhi, offers a comprehensive Practical GST Course in Delhi. The training is ideal for accountants, business owners, and tax professionals seeking hands-on expertise in GST compliance, including detailed modules on GSTR-1, GSTR-2, and GSTR-3B.

Course Highlights:

• Practical exposure to GST compliance, return filing, and troubleshooting.

• Real-world case studies and reconciliation exercises (especially for GSTR-1 and GSTR-3B).

• Guidance on handling GST scrutiny notices, ITC claims, and tax payment strategies.

• Training by experienced Chartered Accountants with up-to-date industry insights.

• Suitable for professionals aiming to master GST returns and avoid penalties.

Understanding GSTR-1, GSTR-2, and GSTR-3B: A Complete Guide,  Get Practical GST Course in Delhi, 110031, by SLA Consultants India, New Delhi

Summary:
GSTR-1 reports sales, GSTR-2 (currently suspended) was meant for purchases, and GSTR-3B is a monthly summary for tax payment. SLA Consultants India’s practical GST course in Delhi equips professionals with the skills to manage these returns effectively, ensuring compliance and confidence in GST operations.