Blog

07 November, 2017

1. What is GSTR-2?

Every registered taxable person is required to give details of Inward Supply, i.e., purchases for a tax period in GSTR-2.


2. Why is GSTR-2 important?

GSTR-2 contains details of all the purchases transactions of a registered dealer for a month. It will also include purchases on which reverse charge applies.

The GSTR-2 filed by a registered dealer is used by the government to check with the sellers’ GSTR-1for buyer-seller reconciliation.

 

3. What is buyer-seller reconciliation?

Buyer-seller reconciliation or invoice matching or is a process of matching taxable sales by the seller with the taxable purchases of the buyer. 

It is vital because ITC on purchases will only be available if the details of purchases filed in GSTR-2 return of buyer matches with the details of sales filed in GSTR-1 of the seller.

 

4. Who should file GSTR-2?

Every registered person is required to file GSTR-2 irrespective of whether there are any transactions during the month or not.

However, these registered persons do not have to file GSTR 2 –

  • Input Service Distributors
  • Composition Dealers
  • Non-resident taxable person
  • Persons liable to collect TCS
  • Persons liable to deduct TDS
  • Suppliers of online information and database access or retrieval services (OIDAR), who have to pay tax themselves (as per Section 14 of the IGST Act)

 









sucessful stats about us

0

happy clients

100

projects

200

branches

200

expert team

The Video Gallery

request a call back

Our Clients

Laabamone ERP Software
163C/1, Kamarajar Salai, Opp. to TVS Show room, Near Ganesh Theatre Signal, 625009 Madurai, Tamil Nadu
0452 - 4243616, info@laabamone.com

Laabamone ERP Software

laabamone Laabamone Business solutions offer a wide spectrum of products which include Laabamone ERP software.
163C/1, Kamarajar Salai, Opp. to TVS Show room, Near Ganesh Theatre Signal, Madurai, Tamil Nadu, IN
0452 - 4243616

Laabamone

laabamone Madurai, Tamilnadu, IN Laabamone ERP Software
Laabamone ERP Software laabamone
163C/1, Kamarajar Salai, Opp. to TVS Show room, Near Ganesh Theatre Signal, Madurai, Tamil Nadu, IN
0452 - 4243616
Tamilnadu, India

Laabamone ERP Software

Laabamone Business solutions offer a wide spectrum of products which include Laabamone ERP software.
Software Rating: 100 out of 100 with 100 ratings
Laabamone ERP Software laabamone
4.7/5 150226
1,0000.00 In stock
Product description: laabamone is a one stop solution for all your business needs