Welcome GST! This new tax regime is applicable to almost all types of businesses in the country, there is GST on real estate as well!
Now, GST has four major tax slabs of 5%, 12%, 18% and 28% and depending on the industry/vertical the GST council has fixed one of these four tax slabs for the businesses. This new tax will subsume all other indirect taxes such as VAT, service etc.,
TopNotepad is a cloud based GST ready accounting software. It is fully loaded with all the key features required to create GST compliant invoices and file monthly returns without any handholding.
As per guidelines of central board of excise taxes and the GST council, every business is required to file returns every month through GSTR-1 form. This form can be manually logged into the GST portal or can be uploaded from in the form of a json file. If you are a TopNotepad user, you can get the json file in a click. Just follow the below steps:
1. Select the required month for which you wish to generate a GSTR-1 form, you need to provide turnover of previous financial year and immediate preceding quarter as well, if applicable and hit the green button “generate json file”. This will download the file that you need to upload to the GST portal for filing the return.
2. Visit GST portal . Click on login button.
3. Provide your credentials and login
4. After logging in, click on “return dashboard”
5. Select the month for which you wish to file the return and hit the search button
6. Click on “prepare offline”
7. Upload the file you downloaded from TopNotepad
8. The file may take a few seconds to get processed depending on count of invoice
9. Once the file is successfully processed, click on return (as shown below)
10. Select the month for which you just uploaded the returns, to check your data
11. To check the data, this time click on “prepare online” button
12. Here you can check the returns that you have filed. You can also edit the data you uploaded by clicking on the relevant module
13. If all looks good, just check the box in the end and submit the return
Here is how you can create a GST compliant invoice
You can also check out our GST Accounting Software
Click here to view all GST tutorials at one place