GSTR-3

Auto populated Summary GSTR-3 is a monthly return which is auto generated after accumulating the information from GSTR-1 and GSTR-2. It is a summary of sales, purchases, sales during the month. GSTR-3 will show the amount of GST liability for the month. The taxpayer must pay the tax and file the return. Who should file…

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GST Returns

A return contains the income details of a tax payer which is used by tax authorities to calculate tax liability. Under GST, a registered taxpayer has to file GST Returns that includes: Purchases Sales Output GST (On sales) Input tax credit (GST paid on purchases) Every registered tax payer has to file returns. A nil return has to be filed…

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GSTR-1

Outward Sales GSTR-1 is a statement in which a regular dealer captures the outward supplies made during a month. It contains details of all the outward supplies made to registered and unregistered businesses or end consumers. In certain exceptional scenarios, taxpayers should capture even B2C transactions at invoice level. Who should file GSTR-1? Every registered person…

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GSTR-2

Inward Sales GSTR-2 contains details of Inward Supply, i.e., purchases for a tax period Every registered tax payer has to file this return. When you make purchases from registered vendors, the information from their sales returns (GSTR-1) will be available on the GSTN portal as GSTR-2A. You can use these details in your GSTR-2. Who should…

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