If you are not aware of a GSTR-1 form, then it is a monthly return which has a summary of all the sales & outward supplies of any taxpayer. Every registered dealer should file the GSTR-1.

If you are wondering about the due date, then it is based on the amount of your turnover. If your business has sales up to 1.5 crores that you need to file these returns on a quarterly basis. If your business turnover is more than 1.5 crore, you will have to file the GSTR-1 on a monthly basis.

It is an age of digitalization. According to the latest survey, the whole trade world is moving to digitization and leaving the manual system behind. So it’s clear enough that the trade organization is getting some further advantages which are making them choose the way.

Through computerized accounting, you can get faster access to information, and it also ensures the reliability. By maintaining a computerized account, it assured the security of your business that no information would leak without any consent of the operator.

We must first understand what GSTR-2 is. Form GSTR-2 is a statement in which a regular dealer needs to capture all the inward supplies made during the month. Broadly, all the inward supplies from registered businesses, including the supplies on which tax needs to be paid on reverse charge are required to be captured at the invoice level to file GSTR-2.

GSTR-2 filing does not require one to declare all the details of inward supplies. Most of the details in GSTR-2 is auto-populated, based on the outward supplies declared by one’s suppliers in their returns.