Let us first give you, introduction to form GSTR-1
The form GSTR-1 is one in which businesses are required to be provided with the necessary details for their outward supplies. Outward Supplies cater in meaning to all the all supplies consisting of sales to various businesses, customers, exportation, and receipts from consumers, so on and so forth.
The form comprises of multiple tables, in each table, the particular business has to provide various details in diverse styles, for example:
- Businesses are required to present “Sales done to other registered business (B2B Invoices)” on a bill by bill basis consisting of the details of the customer.
- The “Sales done to consumers of small amounts” is required to be presented as a summary, not on a bill by bill basis.
- The “Sales did to consumers of large amounts” are required to be presented on a bill-by-bill basis to it comprises the details of the consumer.
How Should You Proceed?
There are a plethora of businesses who want to file their GSTR-1 form, on behalf of either their GST Practitioners or on their own, such businesses can take the help of the GST-ready software, which should allow them to generate GSTR-1.
GST-ready Tally.ERP 9 allows you to generate the GSTR-1 form from within the product. You can either choose to go to file the Form GSTR-1 report, apply for the necessary corrections into the vouchers that will appear in Incomplete of information and then having to export the same into a MS Excel Template, which would be validated using GSTN offline tool and thus have to be uploaded to the portal for GSTN.
How Do GST Practitioners Go About GSTR-1 Filing?
In case you are a GST Practitioner, you probably are be digitizing books for clients using the GST-ready Tally ERP 9, and therefore you will file the GST returns using that particular data itself. The new GST-ready Tally.ERP 9 is going to allow you to generate GSTR-1 from inside the product. You can either go to file the Form GSTR-1 report and then apply the necessary corrections to vouchers that appear in an incomplete section of information and therefore export the same to MS Excel Template, which is going to be then validated via GSTN offline tool.