As per the 23rd GST Council Meeting, taxpayers are divided into two categories based on their aggregate annual turnover and accordingly dates for GSTR-1 filing have been issued.
Taxpayers with an annual aggregate turnover of up to Rs 1.5 Crores have to file GSTR-1 on a quarterly basis. For the quarter of January to March, they have to file by the 30th April 2018.
Taxpayers with an annual aggregate turnover of more than Rs 1.5 Crores need to file GSTR-1 on a monthly basis. For the months of January, they have to file by the 10th March 2018.
In this blog post, we will discuss GSTR-1 filing using GST-ready Tally.ERP 9 Release 6.
Introduction to form GSTR-1
GSTR-1 is a form in which a business must provide the details of its outward supplies. Outward supplies refer to all supplies comprising of sales made to other businesses, sales to consumers, exports, advance receipts from customers, and so on.
There are multiple tables in the form, and businesses have to furnish details in each table. For example, businesses have to fill in:
a) ‘Sales done to other registered business (B2B Invoices)’ bill by bill with details of the buyer.
- b) ‘Sales done to consumers of small amounts (B2CS Invoices)’ as a summary and not bill by bill.
- c) ‘Sales done to consumers of large amounts (B2CL Invoices)’ bill by bill with details of consumer.
Are you a business owner who takes the help of GST practitioner to file returns?
Apart from the help you get from your GST practitioner, you also need a software which can help you record business data in a GST compliant way. You can do one of the following based on your style of working –
a) Take a backup of your company data and share it with your GST practitioner. Click here to find out how to get data backup in Tally.ERP 9.
b) Modify or make corrections in vouchers that appear under Incomplete/Mismatch headings in the GSTR-1 report. Export the updated GSTR-1 as a MS Excel Template, and share it with your GST practitioner.
Are you a business owner who files the returns on your own?
If you are filing GST returns on your own, you need a GST-ready software in which you could generate GSTR-1. By using GST-ready Tally.ERP 9 Release 6, you can generate GSTR-1 easily from within the software itself.
If you are using Release 6.2 or higher, you can generate GSTR-1 in JSON format which can be directly uploaded on the GSTN portal without having to use the offline utility.
If you are using a lower version of Tally.ERP 9, open the GSTR-1 report, apply corrections to vouchers that appear under Incomplete/Mismatch headings and export the same to MS Excel Template. This has to get validated by the offline utility tool available in the GSTN portal. The resultant JSON file generated by the tool has to be uploaded in the portal for filing.
Are you a GST practitioner (CA, tax consultant, accountant) who files returns for clients?
If you are a GST practitioner, you may be digitizing books of your clients using GST-ready Tally.ERP 9. You can file GSTR-1 using the same data, and save time and effort by generating GSTR-1 from within the software itself.
You may receive data in the following manner from clients:
1) Data backup taken in Tally.ERP 9
2) GSTR-1 Excel Template as required in the GSTN portal
3) Data from any other software (not covered in this blog post)
For data backed up in Tally.ERP 9, you can simply restore the backup on to your Tally.ERP 9 and generate the GSTR-1. If you are using Release 6.2 or higher, you can generate GSTR-1 forms of your clients in JSON format and directly upload them on the GSTN portal for filing.
If you are using a lower version of Tally.ERP 9, apply corrections to the vouchers wherever required, export the same to MS Excel Template, get it validated using the GSTN offline utility tool and finally upload to the GSTN portal.
GSTR-1 filing using Tally.ERP 9 Release 6.1
If you have received GSTR-1 MS Excel Template as required by GSTN, then you need to import that in the offline tool, generate the JSON file and upload the JSON file to GSTN portal.
Click here to upgrade to latest version of Tally.ERP 9 . You will also get the advantage of updating books with only modified vouchers.
Click here for more details about generating GSTR-1 using Tally.ERP 9.
From where can we get the offline utility for GSTR-1 filing?
You can download the offline tool here.
Note: Refer to the “System Requirements” section on the GST Department page and ensure that your system matches the system requirements prescribed. In addition, read the instructions provided to install the offline tool.
Credits: Tally Solutions