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What is gstr1 and Gstr 2A and Gstr 3B?

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What is gstr1 and Gstr 2A and Gstr 3B?

• GSTR 3B is a summary return with revenue. implication. • GSTR 1 is a monthly/quarterly return with. invoice-wise outward supply details. • GSTR 2A is an auto-populated return.

What is gstr1 and Gstr 2A?

GSTR 1 is monthly Statement of Outward supplies of Goods or Services filed by registered person. But GSTR 2A is an auto-created information in light of the deals transferred by your provider on the premise of GSTR 1. GSTR 1 has to be filed on 10th day of month.

What is the difference between Gstr 2A and Gstr 3B?

GSTR-3B is used to enter the summary output and input tax credit (ITC) details so that the net tax liability can be calculated and paid. Before filing GSTR-3B, it is important to check the Form GSTR-2A since it shows us the details of the invoices uploaded by our supplier.

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What is a Gstr 2A?

GSTR 2A is a purchase-related dynamic tax return that is automatically generated for each business by the GST portal. When a seller files his GSTR-1, the information is captured in GSTR 2A. As a GST registered buyer, you may refer to the GSTR-2A for input tax credit details while filing GSTR-3B and GSTR-9.

What is 3B in GST?

Form GSTR-3B is a simplified summary return and the purpose of the return is for taxpayers to declare their summary GST liabilities for a particular tax period and discharge these liabilities. A normal taxpayer is required to file Form GSTR-3B returns for every tax period.

How can you tell the difference between Gstr 1 and Gstr-3B?

Payment of Taxes

  • GSTR-1: While filing GSTR-1 no amount of tax has to be paid.
  • GSTR-3B: The return GSTR-3B can be filed only after paying the Tax Liability (CGST, SGST and IGST).
  • GSTR-1: If GSTR-1 is filed after the Due Date then a late fee of Rs.
  • GSTR-3B: If GSTR-3B is filed after the Due Date then late fees of Rs.
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What is Gstr 3B and Gstr 1?

GSTR – 3B is a monthly summary return filed by a taxpayer by the 20th of the next month or 22nd/24th of month following a quarter. GSTR – 1 is a monthly or quarterly return filed by taxpayers to disclose details of their outward supplies for the month – along with their tax liability.

What is Gstr-3B for?

GSTR-3B is a self-declared summary GST return filed every month (quarterly for QRMP scheme). It must be filed by a registered taxpayer from July 2017 onwards.

What is Gstr 9 and 9C?

The GSTR-9 form is an annual return which has to be filed by all registered taxable persons under GST. The GSTR-9C is the GST reconciliation Statement for a particular FY on or before 31st December. The reconciliation must also be certified by a CA for the companies having turnover more than 5 crores.

What is gstr 3B and who should file it?

GSTR-3B is a monthly self-declaration to be filed by a registered GST dealer along with GSTR 1 and GSTR 2 return forms. It is a simplified return to declare summary GST liabilities for a tax period. You have to file GSTR-3B even when there has been no business activity (nil return).

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What is the gstr 3B filing procedure?

Log in to the GST Portal.

  • Services > Returns > Returns Dashboard.
  • Select FY and period of return.
  • Click on Monthly Return and then Prepare Online.
  • You are asked a set of 5 questions.
  • You have to enter values in each tile and also mention the total under each head.
  • Once you have filled up all the data,you can click on the Submit button.

    • Do I need to file gstr 3?

    Yes,it is mandatory to file GSTR-3, even if there are no transactions. What are the preconditions of GSTR-3? Taxpayer should be registered on GST. Taxpayers who are required to file return through DSC, DSC should be there and other taxpayers should have aadhar return.

    What is gstr 3?

    GSTR-3 is a monthly return with the summarized details of sales, purchases, sales during the month along with the amount of GST liability. This return is auto-generated pulling information from GSTR-1 and GSTR-2.