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E-GST Course in Delhi, "Learn Direct Tax Code 2025" 110052, । SAP FICO Course in Noida । BAT Course by SLA Internship Job

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 Mastering GST Certification Course by SLA Consultants India

 Learn Comprehensive Guide to GST Returns by CA Trainer of SLA Institute

 

The Goods and Services Tax (GST) is a crucial aspect of India’s indirect tax system, requiring businesses to comply with various return filings. Understanding these returns is essential for accurate tax reporting and avoiding penalties. In this SLA Institute blog, we will cover the key GST returns, their importance, and the consequences of late filing.

Understanding GST Returns

GST returns are periodic statements that registered taxpayers must file to declare their tax liabilities and claim input tax credits. GST Course in Delhi

Here’s a detailed look at the various GST returns:

1. GSTR-1: Outward Supplies Details

GSTR-1 is a monthly or quarterly return that captures details of outward supplies of goods and services. It helps the government track sales transactions and input tax credit claims.

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2. GSTR-2A & GSTR-2B: Auto-Generated Invoices for Recipients

  • GSTR-2A is an auto-drafted statement reflecting invoices uploaded by suppliers. Taxpayers can use this to verify input tax credits.
  • GSTR-2B is a static statement that provides a summary of eligible and ineligible input tax credits, helping taxpayers in ITC reconciliation.

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3. GSTR-2: Details of Inward Supplies (Currently Suspended)

GSTR-2 was designed to capture inward supplies of a taxpayer, but it has been suspended since the introduction of GSTR-2A and GSTR-2B.

4. GSTR-3 & GSTR-3B: Monthly Tax Summary & Payment

  • GSTR-3 (Currently Suspended) was meant to be a monthly tax return summarizing sales, purchases, and tax liabilities.
  • GSTR-3B is a simplified monthly return where taxpayers report summarized tax liabilities and input tax credits. It is mandatory for all regular taxpayers.

5. GSTR-4: Composition Scheme Taxpayers

GSTR-4 is an annual return filed by businesses under the composition scheme, which allows small businesses to pay a fixed percentage of turnover as tax.

6. GSTR-5 & GSTR-5A: Non-Resident & OIDAR Service Providers

  • GSTR-5 is for non-resident taxable persons who conduct business in India.
  • GSTR-5A is for Online Information and Database Access or Retrieval (OIDAR) service providers supplying services to unregistered Indian consumers. GST Training Course in Delhi

7. GSTR-6: Input Service Distributor (ISD)

GSTR-6 is filed by Input Service Distributors to distribute input tax credit among their branches.

8. GSTR-7: Tax Deduction at Source (TDS)

GSTR-7 is filed by entities required to deduct TDS under GST, mainly government departments and large businesses.

9. GSTR-8: E-Commerce Operators

E-commerce operators file GSTR-8 to report tax collected at source (TCS) on transactions conducted through their platforms.

10. GSTR-9, GSTR-9A & GSTR-9C: Annual Returns & Audit

  • GSTR-9 is the annual return summarizing all monthly/quarterly returns filed during the year.
  • GSTR-9A is for composition taxpayers but has been waived for certain years.
  • GSTR-9C is a reconciliation statement and audit report for businesses with an annual turnover exceeding 5 crore.

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11. GSTR-10: Final Return for Canceled GST Registration

GSTR-10 is filed by taxpayers whose GST registration has been canceled or surrendered, providing final tax details.

12. GSTR-11: Special Returns for UIN Holders

GSTR-11 is filed by foreign diplomatic missions and embassies to claim GST refunds on purchases made in India.

Consequences of Late Filing of GST Returns

Filing GST returns after the due date attracts penalties and interest:

  • Late Fee: 50 per day (25 CGST + 25 SGST) for normal taxpayers, and 20 per day (10 CGST + 10 SGST) for NIL returns.
  • Interest: 18% per annum on the outstanding tax liability.
  • Restriction on ITC Claims: Late filers may lose access to input tax credits.
  • Suspension of GST Registration: Continuous non-compliance may lead to suspension or cancellation of GST registration. GST Training Institute in Delhi

Conclusion

Staying compliant with GST return filing is crucial for businesses to avoid penalties and ensure smooth tax operations. Taxpayers should stay updated with GST norms, maintain proper records, and file returns on time to remain compliant. If needed, professional assistance can help in managing GST efficiently. For more insights on GST compliance, keep following our blog! Visit here: https://www.slaconsultantsindia.com/certification-course-gst-training-institute.aspx

 

E-Accounts and E-GST Course Modules

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

82-83, 3rd Floor, Vijay Block,

Above Titan Eye Shop,

Metro Pillar No. 52,

Laxmi Nagar,New Delhi,110092

Call +91- 8700575874

E-Mail: hr@slaconsultantsindia.com

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

 

 

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Structured Learning Assistance - SLA India Pvt. Ltd. is an ISO 9001:2015 Certified, growing rapidly in last 15 years as a brand name in professional IT & Non-IT training & developmental institute. Our comprehensive & industry oriented up-skill training are focused to companies jobs. Skills up-gradation is required for fresher to professional in different job category like Accounts, Taxation, GST, Data Analytics, MIS & Advanced Excel, Business Analytics, Data Science, Human Resource-HR, Software Testing, Advanced PHP, Digital Marketing, SAP, Tally etc. Our expert trainers deliver practical & project base training and placement cell helps to get best job with new skill-set.