How to file GST Return | Vskills Certifications

How to file GST Return

How to file GST Return

How to file GST Return | GST

Steps for Filing GST Return

  • Step 1: The taxpayer will upload the final GSTR-1 (Outward supplies made by a taxpayer other than compounding taxpayer and ISD) return form either directly through data entry in the GST Common Portal or by uploading the file containing the said GSTR-1 return form through Apps by the 10th day succeeding the month.
  • Step 2: GST Common Portal (GSTN) will be auto-generated in the provisional GSTR-2 of a taxpayer.
  • Step 3: Purchasing taxpayer will have to either accept, reject or modify that provisional GSTR-2.
  • Step 4: Purchasing taxpayer shall be able to add additional purchase invoice details in his GSTR-2 which have not been uploaded by the supplier as mentioned in Step 1&2, to ensure the valid invoice issued by the supplier and receiving of supplies.
  • Step 5: Taxpayers will have the option to do reconciliation of inward supplies with suppliers during the next 7 days by following up with their counter-party taxpayers for any missing supply invoices in the GSTR-1 of the suppliers.
  • Step 6: Taxpayers will finalize their GSTR-1 and GSTR-2 return.
  • Step 7: Taxpayers will pay the amount as shown in the draft GSTR-3 (Monthly return other than compounding taxpayer and ISD) return generated automatically generated at the online Portal Post Finalization of activities mentioned above in Step 6.
  • Step 8: Taxpayer will debit the both ITC, cash ledger, and mention the debit entry number in the GSTR-3 return and would submit the same.

Professionals, tax consultants, accountants can use the below links to be updated on Goods and Services Tax

1 Comment. Leave new

  • I am a small retail businessman having cloth store. My annual turnover is around 50 L/annum. However I did not take composite GST but registered under regular GST scheme. Now question and clarification which are needed :
    1. When I am purchasing cloth from wholesaler, they are charging 5% GST. Should I also charge same 5% GST from my customer and mention the same in the bill which I am giving to my customer?
    2. My overall business account maintained manually. However I pay to the wholesaler by A/c payee cheque from my current account. Now how would I calculate my exact sale for every month ? As I need this while submitting GSTR1.
    Appreciated any help.

    Reply

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