UNDERSTANDI
NG AND
FILLING OF
GSTR-1
1.Introduction
2.What is GSTR-1 and
Importance.
3.Brief description about
E- Invoice
4.Importance and content
INDEX of E- Invoice
5.Content of E-Invoice
6.Amendment of E
Invoice.
7.Step by step Guidelines
for Fillling GSTR-1
8.Problem facing while
filling of GSTR-1
9.Conclusion.
INTRODUCTIO
N
As we all know that government interduce
the Goods and Service Tax from
01/07/2017.
And we are successfully implemented and
adopted the tax system effectively.
The movement introduces the many fillings
in the GST Act. And the very0First and more
2
most is GSTR-1
1.GSTR-1 it is the fi rst monthly
return fi lling to GST
department.
What is GSTR-1 : It is the Monthly Return under GST . Its
Primarily focuses on the Outwards Supplies or services made
by the Registered Taxpayers for the previous month.
We must file the return within 11th of every successive
month, and the filling of return on timely and accurately is
very much important for various reasons.
Some of the importance are,
1. It’s a legal obligation.: It’s a Mandatory filling under the
GST act.
2. Maintaining of Tax Record.: Accurate GSTR-1 filling helps
maintain a clear record
of all Sales /Services to avoid tax audit and Investigation.
3. Claiming of Input Tax Credit to our Customer: Our Customer
can avail the ITC timely by filling the Return timely and
4. Verification of Business. : Its indicates the active operation of the business.
5. Efficient Tax Collection by the Government.: Its helps to government of collect
tax efficiently.
6. Data-Driven by Policy making/Decision making: We can fetch the data from
GST website for Timely on the accurate filling .
7.Avoice Penalties and Interest.: It leads to avoid the fines and Penalties
8. Preventing legal Issues at time of Audit.: Accurate filling minimise the risk of
legal isputes and investigations.
9. Reconciliation with GSTR-2A.: Very much and impartment is that our customer
can reconcile the data accurately and efficiently and timely.
2.DESCRIPTION OF E-
INVOICEING
• Electronic Invoicing is called E Invoice its playing
very much impartment role for filling of GSTR-1.
• Now we are all successfully generating E-invoice in
your own system,
• And that E -Invoice has significantly streamlined the
GST Return filling process and all E-Invoice are Auto
populates in GSTR-1 Filling portal.
• So its very impartment Generate the E invoice
accurately.
• So that we need to understand the Importance,
content and for what documents need to generate E -
Invoice.
• Invoice No
• Date
• Document Type (Tax
Invoice ,Credit Note
0
3.Content of Debit Note)
1
E Invoice • Place of Supply
• Applicability of RCM
• 0HSN Code
2
• Basic value
• GST TAX
• 0Q R Code
3
• IRN Number
4.Importance of E – Invoicing
1. It’s a legal obligation. : It’s a Mandatory under GST act to
generating E Invoice for Tax Payers who’s turnover cross 5Cr
per year.
2. To whom we need to generate: It’s Mandatory to B2b,
Export sales and Export Services, Sez sales Services, Credit
Note and Debit Note(documents which aff ects the Turnover)
3.Fines and Penalties: There is penalty for non-generation of E
Invoice Tax value of the Invoice or Rs 10,000/- per Incidence
whichever is higher.
4. Importance: Its auto populates and reduces the manual data
entry, avoid the errors, its real time data update, simplifi ed
process in the GST portal.
5.Amendment and
cancelation of E Invoice.
1. we can cancel the E Invoice with in 24hours of Generation.
2. We can amend the E Invoice between 12th to 19th of every month for
the previous months means before filling of GSTR3B.
3. There are some limitations for amendment of E Invoice we cannot
Amended the GST No .
4. After this we need to issue debit note for increase the value of invoice
along tax liability and issue the Credit notes for decreasing the value of
invoice.
HTTPS://EN.WIKIPEDIA.ORG/WIKI/GOAL
6.Step by step Guidelines for
Fillling GSTR-1
https://services.gst.gov.in/ser
vices/login
7.Problems facing at the time of Filling E
S Invoice.
1.M If you do not share the Cancelled
Invoices along with report
2. If you do not share the rejection Invoices
along with report
3.R If you share the quantity details with
HSN wise it will helpful to file return faster.
T
CONCLUSION
In conclusion, GST filing and e-invoicing are not merely compliance
requirements but critical tools for enhancing transparency,
efficiency, and accountability in business operations
It is crucial for businesses to stay updated on regulatory changes,
adopt robust technological solutions, and foster a culture of
compliance to maximize the benefits of these reforms. GST filing
and e-invoicing are not just regulatory mandates but stepping
stones toward a more organized and efficient financial ecosystem.
Thank
you!
A P R E S E N TAT I O N B Y J O N AT H A N S A N D E R S
