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GSTR-2 is an application of Return for Inward supplies for the tax period. It is the next step for the taxpayer once he has filed GSTR-1. Inward supply means receiving goods or services or both whether by purchase, acquisition or any other means with or without consideration. In this application, all aspects related to Inward supply is being covered. Information Auto-populated in GSTR-2 Details of tax collected at source equipped by an e-commerce operator Invoice wise details of all supplies acknowledged from registered persons Details of invoices furnished by a non-resident taxable person in his return in FORM GSTR-5 Details of invoices fitted out by an Input Service Distributor in his return in FORM GSTR-6 Details of tax deducted at source furnished by the withheld in FORM GSTR-7 Here is a step-by-step process of filing GSTR-2: Login to GST Portal Select the month for which you are filing GSTR-2 Click on Prepare Online under GSTR-2 GSTR-2 - Details on Invoices Inward supplies acknowledged from registered person including Reverse Charge supplies: Information of all misplaced inward supplies from registered dealers should be entered here. This will also include inward supplies acco

The retail industry is the fastest growing industry in India also in the world. The retail industry growth rate was 23% in 2017 in comparison to 2016 and is expected to grow at a higher rate in 2018. A research says retail industry in India expected to see a growth of 1100 trillion US $ by 2020. In the year 1990, the retail industry captured 23% of the total market and after 2000 it captured 43%. And with this growth rate, Indian retail industry is marching towards becoming the largest retail sector in the world. Let's take an example to depict the real growth of retail in India. In the year 2011, I have finished my graduation and at that time there was no shopping mall in my hometown (a rural place in the state Odisha). After 7 years i.e. in 2018, there is a lot of shopping mall emerged as the shopping hub. So, in these 7 years, the retail industry grows at a faster rate in India as well as worldwide. E-commerce is booming as another growth factor for the retail industry. E-commerce

GST brings uniformity in tax structure and made it simple for businesses out there.