GST return filing is a crucial part of any business in India. It is the process of submitting your tax returns to the government on a monthly or quarterly basis, depending on the type of business. One of the most important GST returns is GSTR-1, which is a monthly or quarterly return that has to be filed by all registered taxpayers.
GSTR-1 is a monthly or quarterly return that has to be filed by all registered taxpayers. It is a declaration of all the outward supplies made during a given period, which includes sales and other transactions. GSTR-1 contains details of all the transactions made by a business during the month or quarter, such as the name and address of the buyer, the value of the goods or services supplied, and the GST charged.
The due date for filing GSTR-1 is based on the turnover of the business. If the turnover of the business is less than Rs. 1.5 crores, GSTR-1 can be filed quarterly. If the turnover of the business is more than Rs. 1.5 crores, GSTR-1 has to be filed on a monthly basis.
There are two ways to file GSTR-1 on the GST portal:
File with DSC (Digital Signature Certificate):
If you have a digital signature certificate, you can use it to electronically sign your GSTR-1. You can either upload your GSTR-1 in the JSON format or enter the details in the GST portal directly. Once you have verified the details, you can sign the form using your digital signature certificate.
File with EVC (Electronic Verification Code):
If you do not have a digital signature certificate, you can use the EVC method to verify your GSTR-1. EVC is a code that is sent to your registered mobile number and email ID, which you need to enter in the GST portal to complete the verification process.
1. Login to the GST portal using your credentials.
2. Select the GSTR-1 form from the dashboard.
3. Select the financial year and the filing period.
4. Enter the details of your outward supplies, including the name and address of the buyer, the value of the goods or services supplied, and the GST charged.
5. Verify the details and submit the form.
6. If you have a digital signature certificate, sign the form electronically. If not, use the EVC method to verify the form.
7. Once the form is submitted, you will receive an acknowledgement receipt.
GSTR-1 is an important GST return that has to be filed by all registered taxpayers. By following the above steps, you can easily file your GSTR-1 on the GST portal. Whether you use a digital signature certificate or the EVC method, make sure to verify your form before submitting it. This will ensure that your GST returns are accurate and up-to-date, and you remain compliant with the GST laws.
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