An online invoicing and accounting software that empowers you with required gstr-1 return filing reports with almost zero last minute hassles, helping you stay compliant. The new tax regime of goods and services tax (GST) is an indirect tax levied on goods and services sold for consumption. It’s a source of revenue for the government.
The GSTR-1 form needs to be filed by the GSTIN holder on a regular basis. It includes summary of all outward supplies made in each month.
All the businesses in the country are expected to be GST compliant. It is important to note that every registered entity needs to ensure taxes are remitted and tax returns filed well before the due dates each month.
TopNotepad is a simple online affordable invoicing and accounting software that helps small businesses seamlessly manage books of accounts stay compliant.
For those who are GSTIN holders and are required to file GSTR-1 form, below list highlights the items that needs to be covered in the returns that are filed:
1. Invoice level details of all the outward supplies made to other GST registered businesses (b2b supplies)
2. Details of supplies made to unregistered businesses or individuals with invoice value of more than INR 250 K, again this needs to be at invoice level (b2cl supplies)
3. All the other supplies made to consumers or businesses that are not holding GSTIN and not covered in the above point i.e., invoice value is less than 250K (b2cs supplies)
4. HSN level summary of all outward supplies made in a calendar month, if your turnover is more than INR 1.5 Crore in a financial year
5. Summary of refund issued either in the form of credit notes or debit notes or actual refund of the sum (in full or part)
6. Details of all the advance payments received but not yet invoiced.
These are the key things that a small business needs to file. While there are more items that the GSTR-1 document entails, we have focused only on the items concerning majority of small businesses.
In fact, for a trader or a merchant not dealing with sales returns and advances, the only things that needs to be filed are the b2b, b2cl and b2cs summary. Upgrade to TopNotepad, which is GSTsoftware for small businesses and generate the monthly GSTR-1 form by a click of a button and file returns seamlessly. The software would not only help you create invoices and manage books it will also help you be ready to file statutory returns on a regular basis with no additional work, just create GST compliant invoices and log your expenses, that’s it!
We strongly recommend small businesses, not to invest in industry specific software, which are complex and may not be affordable. TopNotepad is carefully handcrafted software to manage books and invoices for variety of small businesses.
The GSTR-1 form needs to be filed by the GSTIN holder on a regular basis. It includes summary of all outward supplies made in each month.
All the businesses in the country are expected to be GST compliant. It is important to note that every registered entity needs to ensure taxes are remitted and tax returns filed well before the due dates each month.
TopNotepad is a simple online affordable invoicing and accounting software that helps small businesses seamlessly manage books of accounts stay compliant.
For those who are GSTIN holders and are required to file GSTR-1 form, below list highlights the items that needs to be covered in the returns that are filed:
1. Invoice level details of all the outward supplies made to other GST registered businesses (b2b supplies)
2. Details of supplies made to unregistered businesses or individuals with invoice value of more than INR 250 K, again this needs to be at invoice level (b2cl supplies)
3. All the other supplies made to consumers or businesses that are not holding GSTIN and not covered in the above point i.e., invoice value is less than 250K (b2cs supplies)
4. HSN level summary of all outward supplies made in a calendar month, if your turnover is more than INR 1.5 Crore in a financial year
5. Summary of refund issued either in the form of credit notes or debit notes or actual refund of the sum (in full or part)
6. Details of all the advance payments received but not yet invoiced.
These are the key things that a small business needs to file. While there are more items that the GSTR-1 document entails, we have focused only on the items concerning majority of small businesses.
In fact, for a trader or a merchant not dealing with sales returns and advances, the only things that needs to be filed are the b2b, b2cl and b2cs summary. Upgrade to TopNotepad, which is GSTsoftware for small businesses and generate the monthly GSTR-1 form by a click of a button and file returns seamlessly. The software would not only help you create invoices and manage books it will also help you be ready to file statutory returns on a regular basis with no additional work, just create GST compliant invoices and log your expenses, that’s it!
We strongly recommend small businesses, not to invest in industry specific software, which are complex and may not be affordable. TopNotepad is carefully handcrafted software to manage books and invoices for variety of small businesses.