GST Return Filing Guide for Tax Consultants
Create GST invoicing, accounting and return filing software
What is a GST return?
A GST return is document/ set of documents filed by the GSTIN holder summarizing the business for a given period. As per the GST law, a return needs to be filed on a monthly basis if you are not in composition scheme.
These monthly returns are broadly classified into 3 forms. The GSTR-1, GSTR-2 and the GSTR-3 forms.
GSTR-1 is the only form that a business needs to file. This form carries the summary of business done in a month. It categories the invoices across different heads as required by GST. Example: If you invoice another business with GSTIN, such invoices are classified into B2B invoices. In case, you invoice a consumer it is categorized into B2CS (business to consumer small). Similarly, if you invoice a consumer/un registered business with invoice more than 2,50,000 and if the supply is made to a different state, then the invoice is categorized into B2CL (business to consumer large).
GSTR-2 and GSTR-3 are auto populated basis returns (GSTR-1) filed by all GSTIN holders.
Basically GSTR-2 talks about the supplies a business received for a given period and tax paid on such supplies, so that thes
Who needs to file GST returns?
All the GSTIN holders need to file regular GST returns failing which the tax authorities would take strict action. What are the important dates?
At the time of writing this article, the key dates as listed on GST portal were 5th of month for filing GSTR-1 form. 10th of month for filing GSTR-2 form and 15th of month for filing GSTR-3 form.
Please note, the GST apex body share regular updates on the GST portal about key dates and other notifications.
How to file the return?
TopNotepad is a free gst accounting software to start with that let’s you not only manage the books but also file GST returns with ease. As you create invoices, the GSTR-1 form would automatically create itself, all one needs to do is download this form and upload it to GSTIN portal.
A GST return is document/ set of documents filed by the GSTIN holder summarizing the business for a given period. As per the GST law, a return needs to be filed on a monthly basis if you are not in composition scheme.
These monthly returns are broadly classified into 3 forms. The GSTR-1, GSTR-2 and the GSTR-3 forms.
GSTR-1 is the only form that a business needs to file. This form carries the summary of business done in a month. It categories the invoices across different heads as required by GST. Example: If you invoice another business with GSTIN, such invoices are classified into B2B invoices. In case, you invoice a consumer it is categorized into B2CS (business to consumer small). Similarly, if you invoice a consumer/un registered business with invoice more than 2,50,000 and if the supply is made to a different state, then the invoice is categorized into B2CL (business to consumer large).
GSTR-2 and GSTR-3 are auto populated basis returns (GSTR-1) filed by all GSTIN holders.
Basically GSTR-2 talks about the supplies a business received for a given period and tax paid on such supplies, so that thes
Who needs to file GST returns?
All the GSTIN holders need to file regular GST returns failing which the tax authorities would take strict action. What are the important dates?
At the time of writing this article, the key dates as listed on GST portal were 5th of month for filing GSTR-1 form. 10th of month for filing GSTR-2 form and 15th of month for filing GSTR-3 form.
Please note, the GST apex body share regular updates on the GST portal about key dates and other notifications.
How to file the return?
TopNotepad is a free gst accounting software to start with that let’s you not only manage the books but also file GST returns with ease. As you create invoices, the GSTR-1 form would automatically create itself, all one needs to do is download this form and upload it to GSTIN portal.