How to File GSTR 1 with ClearTax GST Software Online

GST (Goods and Services Tax) has transformed the indirect tax structure in India, unifying multiple taxes under one umbrella. One crucial aspect of GST compliance is the timely and accurate filing of GSTR-1 (a monthly/quarterly return that registered dealers must submit).

GSTR report presents the details of outward supplies of goods and services. It is mandatory for businesses exceeding a certain turnover threshold to file their GSTR-1. Also, non-compliance with this may lead to penalties.

Businesses looking for a streamlined and efficient solution to fulfill their GSTR-1 filing obligations prefer ClearTax GST Software as a user-friendly online platform. This software simplifies the entire process, making it easier for businesses to report their supply details, reconcile invoices, and file GSTR-1 accurately.

Filing GSTR-1 with ClearTax GST Software: A Step-by-Step Guide

GSTR-1 is a quarterly or monthly return that must be filed by registered dealers. Here’s the process of filing GSTR-1 with the help of ClearTax GST Software.

1. Determine Your Turnover: Dealers with a turnover below INR 1.5 crore can choose to file the return (quarterly/monthly). Dealers must choose between monthly and quarterly at the time of GSTR-1 filing.

2. Setting Preferences on GST Portal: Log in to ClearTax software and click on GSTR-1 under the GST dropdown section to file the return.

3. Add or Import Sales Invoices:

• Importing Sales Invoices: You can import invoices through ClearTax Excel template or other specified templates. To do so, follow these steps:

Download the ClearTax Excel template and choose from the available options.

Fill up the spreadsheet with necessary sales details (mentioned in sales bills) for a specific period and upload the completed sheet.

• Adding Sales Invoices/Bills: Navigate to the ‘Prepare Data‘ tab and select ‘Create Invoices‘. Fill in the necessary details and tap on save.

4. Verify your Auto-Populated Report: Verify and add values in various sections such as B2C, B2B Credit notes, Debit notes, Exports, Advances Adjustments, Documents Summary, Advances Received, HSN summary, and more.

5. Update Turnover: Enter the total sales as well as the turnover for your last financial year.

6. Review and Amend Invoices: View as well as amend all invoices under the ‘View all invoices’ tab before uploading to GSTN.

7. Upload to GSTN: Upload the entire data into GSTN with OTP, validate the data, and ensure API Access through GST Portal.

8. Review Data and Freeze It: Ensure all sales invoices are included before freezing the data.

9. Upload Your GSTR-1 directly on the Govt Portal: Log in to the Portal and go directly to GSTR-1 in the Returns section. Click ‘Prepare online’, ‘Submit’, and ‘File GSTR-1’ on the GST Portal.

By following these steps, you can effectively file your GSTR-1 using ClearTax Software.

Why Use ClearTax GST Software to File GSTR-1?

While considering ClearTax GST Software for filing GSTR-1, it’s essential to know about the features and benefits that this software provides for simplifying GSTR-1 filing and ensuring GST compliance.

ClearTax GST Software offers several features that simplify the process of filing GSTR-1, making it a preferred choice for GST compliance. Some of the key features include:

1. User-Friendly Interface: ClearTax GST Software provides a user-friendly interface, making it easy for businesses to navigate through the process of filing GSTR-1.
2. Automated Data Import: The software allows for the automated import of sales invoices through Excel templates, streamlining the data entry process and minimizing the scope for manual errors.
3. Auto-Populated Summaries: ClearTax GST Software empowers users with auto-populated summaries for various sections like B2C Large, B2B, Exports, Credit Notes, Debit Notes, and more. This eases the task of verifying and adding values.
4. Advanced Reconciliation Tool: The software offers an advanced tool for Reconciliation that speeds up the reconciliation of purchase data along with GSTR-2A. This enables users to claim maximum IT returns and identify and match invoices efficiently.
5. Seamless Data Upload: ClearTax facilitates seamless data upload to GSTN with features such as one-time password (OTP) validation, API access to GST Portal, review data, and freeze data options.

Some of the Benefits of Using ClearTax for GST Compliance Include:

1. Time and Cost Efficiency: With its user-friendly interface and automated features, ClearTax GST Software saves time and reduces manual effort, ultimately leading to cost savings for businesses.
2. Compliance Accuracy: The software helps ensure compliance accuracy by minimizing the chances of errors during GSTR-1 filing, contributing to seamless and error-free GST compliance.
3. Real-Time Updates: ClearTax GST Software provides real-time updates and enables businesses to keep a tab on the latest GST rules and regulations. This ensures adherence to compliance requirements.
4. Reconciliation Efficiency: The Advanced Reconciliation Tool simplifies and expedites the reconciliation process, improving the efficiency of managing purchase data along with GSTR-2A.
5. Enhanced Data Accuracy: The intuitive features of ClearTax GST Software ensure that the filed data is accurate, leading to improved compliance and reduced risk of penalties.
6. Comprehensive Support: ClearTax offers comprehensive support and guidance for businesses, helping them stay updated with the latest GST rules and regulations.
7. Enhanced Claim Process: The Advanced Reconciliation Tool helps in the seamless identification and claiming of Input Tax Credit (ITC).

In short, ClearTax GST Software simplifies GSTR-1 filing through its user-friendly interface, advanced reconciliation tools, and time-saving features.

The software provides many benefits, including error reduction, simplified data entry, and comprehensive support. This makes it an ideal choice for businesses seeking efficient GST compliance solutions.

Conclusion

In short, this article provides a comprehensive guide on using ClearTax GST Software to streamline GSTR-1 filing. It offers step-by-step instructions to use ClearTax software and emphasizes the software’s features and benefits for efficient GST compliance.

Apart from that, it outlines the significance of timely and accurate GSTR-1 submission for registered dealers. Moreover, ClearTax GST Software’s user-friendly interface, advanced reconciliation tool, and seamless data upload capabilities make it an asset for businesses.

By leveraging this software, businesses can save time and costs, ensure compliance accuracy, and benefit from comprehensive support and real-time updates. Therefore, ClearTax GST Software emerges as an invaluable resource for businesses aiming to enhance their GST compliance efforts and streamline their GSTR-1 filing process.

How to File GSTR-1 with ClearTax GST: Frequently Asked Questions