Gst Return Filling 3b & R1

Before we delve into the filing process, let’s understand the purpose of these two forms:

• GSTR-3B: This is a monthly summary return that provides a snapshot of your business’s outward supplies, inward supplies, input tax credit claimed, and tax liability for the month. It’s a simplified return that requires less detailed information compared to GSTR-1.
• GSTR-1: This is a detailed return that captures invoice-wise details of all outward supplies made during a tax period. However, in certain cases, taxpayers may be required to file GSTR-1 along with GSTR-3B.

Steps to File GSTR-3B

1. Login to the GST Portal:

   • Visit the official GST portal and log in using your credentials.

2. Navigate to Returns Dashboard:

   • Once logged in, go to the ‘Services’ tab and select ‘Returns’.
   • Click on ‘Returns Dashboard’.

3. Select the Return Period:

   • Choose the financial year and tax period for which you want to file the return.

4. Select Form GSTR-3B:

   • Click on the ‘File’ button next to Form GSTR-3B.

5. Fill in the Return Details:

   • Table 3.1: Tax on Outward and Reverse Charge Inward Supplies:
     • Enter the total taxable value of your outward supplies.
     • Calculate and enter the applicable CGST, SGST, IGST, and Cess amounts.
     • If applicable, enter the details of reverse charge supplies.
   • Table 3.2: Inter-state Supplies:
     • Enter the total taxable value and IGST amount for inter-state supplies.
   • Table 4: Eligible ITC:
     • Enter the total input tax credit claimed, including details of ITC claimed from inward supplies, import of goods, and input services.
   • Table 5: Exempt, Nil-rated and Non-GST Supplies:
     • Enter the details of any exempt, nil-rated, or non-GST supplies.
   • Table 6: Interest and Late Fee:
     • If applicable, enter the amount of interest and late fee payable.

6. Verify and Submit:

   • Carefully review all the entered details to ensure accuracy.
   • Click on the ‘Verify and File’ button to submit the return.

Steps to File GSTR-1

1. Navigate to Returns Dashboard:

   • Follow the same steps as for GSTR-3B to reach the Returns Dashboard.

2. Select Form GSTR-1:

   • Click on the ‘File’ button next to Form GSTR-1.

3. Fill in the Return Details:

   • Table 3.1: Outward Supply:
     • Enter invoice-wise details of all outward supplies, including the invoice number, date, recipient’s GSTIN, taxable value, and applicable taxes.
   • Table 6.1: Nil Rated, Exempt and Non-GST Supplies:
     • Enter details of any nil-rated, exempt, or non-GST supplies.
   • Table 7: Debit Notes:
     • Enter details of any debit notes issued.

4. Verify and Submit:

   • Review the entered details and click on the ‘Verify and File’ button.

Important Considerations:

• Timely Filing: Ensure that you file your returns before the due date to avoid penalties.
• Accurate Data Entry: Double-check all the information entered to prevent errors.
• Reconciliation: Regularly reconcile your GSTR-1 and GSTR-3B returns to identify and rectify discrepancies.
• E-way Bill Generation: If applicable, generate e-way bills for movement of goods.
• Payment of Taxes: Make timely payments of taxes to avoid interest and penalties.
• Stay Updated: Keep yourself updated with the latest GST rules and regulations.

By following these steps and keeping these considerations in mind, you can effectively file your GST returns and ensure compliance with the GST law.