Monthly / Quarterly Returns (GSTR-1 and GSTR-3B)
Stay compliant with the timely filing of your GSTR-1 and GSTR-3B returns. As essential returns for every GSTIN-registered business, we guarantee zero penalties and a hassle-free experience.
SaralFIling Service includes:
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GSTR-2A reconciliation
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Facilitation of Output tax payment
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Valid for businesses with upto 50 monthly sales invoices
Annually Packages Starts from
₹ 4,999/- Only
* Excluding Goods and Services Tax
Quarterly Packages Starts from
₹ 1,999/- Only
Introduction:
The Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It is a unified tax system that replaced multiple indirect taxes, streamlining the taxation process. As a registered taxpayer under GST, it is essential to file your GST returns to comply with the law and calculate your tax liability accurately. In this guide, we will cover various aspects of GST return filing, including types of returns, due dates, online filing process, and tracking return status.
Types of GST Returns and Due Dates:
GST returns are filed in different forms, each serving a specific purpose. The due dates for filing these returns vary based on the nature of the return. Here are some common types of GST returns and their due dates:
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GSTR-1: Outward Supplies of Goods and Services: GSTR-1 is a return that captures the details of outward supplies made by a taxpayer. It includes both interstate and intrastate supplies to registered and unregistered persons. Here are some key details to be reported in GSTR-1:
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Invoice-wise details of B2B (Business-to-Business) supplies, including taxable value, taxable amount, and tax amount.
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Invoice-wise details of B2C (Business-to-Consumer) supplies, consolidated by state and taxable value.
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Details of exports and deemed exports.
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Details of supplies attracting reverse charge mechanism.
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Details of credit notes and debit notes issued.
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The due date for filing GSTR-1 is typically the 11th of the following month.
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GSTR-3B: Summary Return for Inward and Outward Supplies:​ GSTR-3B is a monthly self-declared summary return that provides a consolidated view of inward and outward supplies. It is an important return for taxpayers to report their tax liability and claim input tax credit. Here are some key details to be reported in GSTR-3B:
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Outward taxable supplies, including inter-state and intra-state supplies.
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Inward taxable supplies liable for reverse charge.
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Eligible input tax credit.
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Tax payable after adjusting input tax credit.
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Payment of tax by cash or utilizing input tax credit.
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The due date for filing GSTR-3B is usually the 20th of the following month.
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List of Documents Required
To file Goods and Services Tax (GST) returns in India, the following documents and information are typically required:
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Sales and Purchase Invoices: Invoices issued for all sales made and purchases received during the return period. These invoices should contain details such as GSTIN of the supplier and recipient, invoice number, date, product description, quantity, taxable value, applicable GST rate, and amount of GST charged.
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GST Credentials: GST credentials including all the additional places of business in India.
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Reconciliation Statement: Reconciliation of turnover and tax paid as per the books of accounts with the figures reported in GST returns, Reconciliation of ITC as per books with ITC claimed in GST returns.
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Other Supporting Documents: Credit and debit notes issued or received during the return period.
-Adjustments made for advances received, if applicable
-Details of supplies made through e-commerce operators, if applicable
-Details of exempt supplies, if any
-Any other documents relevant to the filing of GST returns.
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It's essential to maintain accurate records and documentation to ensure compliance with GST regulations and facilitate the smooth filing of GST returns. Businesses should also use accounting software or GST compliance platforms to automate the process and minimize errors in return filing. Additionally, it's advisable to consult with a tax professional or GST expert to ensure correct reporting and compliance with GST laws.
Online Filing Process:
The government has established a user-friendly online platform, the GST portal, for the seamless filing of GST returns. Here are the steps to file GST returns online:
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Visit the GST portal (www.gst.gov.in).
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Log in using your credentials or register as a new user if you are a first-time filer.
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Select the appropriate GST return form based on your filing requirements (e.g., GSTR-1, GSTR-3B).
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Fill in the necessary details, including outward supplies, input tax credit, and tax liability.
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Validate the information entered and ensure accuracy.
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Submit the return on the portal.
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Pay any tax liability through the integrated payment system.
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After successful submission, download the acknowledgment receipt for your records.
Benefits of GST Return Filing:
Elimination of Cascading Effect: GST eliminates the cascading effect of taxes, ensuring that tax is not levied on tax, resulting in cost savings for businesses.
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Higher Threshold: Small businesses benefit from a higher turnover threshold, reducing the compliance burden for those with limited resources.
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Easier for Startups and E-commerce Businesses: GST simplifies tax management for startups and e-commerce companies by providing a unified tax system across states, reducing complexity and facilitating growth.
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Organized System: GST introduces an organized and streamlined tax filing process, promoting transparency, minimizing errors, and enabling efficient compliance.
Conclusion
Filing your GST returns accurately and on time is crucial to maintain compliance with GST regulations. By understanding the types of returns, due dates, online filing process, and tracking methods, you can ensure a smooth and hassle-free experience. Always stay updated with the latest GST guidelines and consult professionals when needed.