{"id":20189,"date":"2022-05-31T15:28:53","date_gmt":"2022-05-31T09:58:53","guid":{"rendered":"https:\/\/open.money\/blog\/?p=20189"},"modified":"2023-07-06T15:07:33","modified_gmt":"2023-07-06T09:37:33","slug":"file-gstr-1-with-open","status":"publish","type":"post","link":"https:\/\/open.money\/blog\/file-gstr-1-with-open\/","title":{"rendered":"File Your GSTR-1 easily With Open"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">For any <strong>GST (Goods and Services Tax)<\/strong> registered business, the most important thing is timely filing of Returns and Challan payments. The GST Council of India has lately laid out a few requirements for the GST registered companies to comply with the regime.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While you may already be aware of basic procedures such as <strong>GST calculations<\/strong>, we\u2019ll now shed more light on the finer aspects of <a href=\"https:\/\/app.open.money\/gstr-1\/summary?start_date=2022-05-01&amp;end_date=2022-05-31&amp;duration=monthly\">GSTR-1 filing<\/a>. All GST registered businesses are required to specify the details of outward supplies and calculate the amount of tax they are required to pay. This can be done by submitting sales invoices under the GSTR-1 filing. In this article, we will take you through the important aspects on how to file your GSTR-1 with <strong>Open<\/strong> and the easiest way to accomplish the process.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Without any delay, let\u2019s get started &#8211;\u00a0<\/span><\/p>\n<h3><b>Who needs to file GSTR-1?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Every registered person\/ taxpayer <em><strong>other than\u00a0<\/strong><\/em><\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Input Service Distributor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Composition Taxpayer<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Taxpayer liable to collect TCS<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Taxpayer liable to deduct TDS<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Non-resident taxable person<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Suppliers of Online Information and Database Access or Retrieval Services (OIDAR)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">is bound to file GSTR-1. While doing this, the taxpayer shares complete details of their sales; i.e outward supplies made during a month or a quarter. Filing GSTR-1 is mandatory for any registered taxpayer, irrespective of the transactions or sales for that period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Based on its annual turnover, a business can choose to file returns either monthly or quarterly. Check the details below to understand the monthly\/ quarterly GSTR1 filing requirements.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 43.6966%;\"><strong>Turnover<\/strong><\/td>\n<td style=\"width: 56.3034%;\"><strong>Month\/Quarter<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 43.6966%;\"><span style=\"font-weight: 400;\">More than 5 Cr<\/span><\/td>\n<td style=\"width: 56.3034%;\"><span style=\"font-weight: 400;\">Monthly returns\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">(11th of subsequent month)<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 43.6966%;\"><span style=\"font-weight: 400;\">Less than 5 Cr (opted for QRMP)<\/span><\/td>\n<td style=\"width: 56.3034%;\"><span style=\"font-weight: 400;\">Quarterly returns\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">(13th of the first month of subsequent quarter)<\/span><\/i><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 43.6966%;\"><span style=\"font-weight: 400;\">Less than 5 Cr (not opted for QRMP)<\/span><\/td>\n<td style=\"width: 56.3034%;\"><span style=\"font-weight: 400;\">Monthly returns\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">(11th of subsequent month)<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>[su_button url=&#8221;https:\/\/register.open.money\/compliance\/?utm_source=button_top&amp;utm_medium=image&amp;utm_campaign=GSTR-1_Filing&#8221; target=&#8221;blank&#8221; background=&#8221;#663399&#8243; size=&#8221;5&#8243; center=&#8221;yes&#8221; icon_color=&#8221;#663399&#8243;]File your GSTR-1 now![\/su_button]<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">It is important to remember that in case the taxpayer does not file his returns within specified due dates mentioned on the GST portal, he is obliged to pay a late fee as a penalty.\u00a0<\/span><\/p>\n<p><strong>However, filing returns on the GST portal brings along a bunch of challenges:<\/strong><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Limited activation time on the platform &#8211; while the process takes hours\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Tedious document upload and verification process<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Confusing invoice errors and difficult to make amendments<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Issue while adding new invoices to respective sections\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">System failure when there is a user overload<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Capacity issue &#8211; incapable to create a view, in case the number of invoices exceeds 500<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Ineffective support in sales and purchase transactions involving e-commerce operators\u00a0<\/span><\/li>\n<\/ul>\n<p><strong><i>Well, not anymore! With Open\u2019s Tax &amp; Compliance module, filing GSTR-1 gets as easy as it could be. <\/i><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The foremost benefit that Open offers is that you can create <\/span><a href=\"https:\/\/open.money\/products\/invoice-management-solution\"><span style=\"font-weight: 400;\">GST &#8211; compliant invoices<\/span><\/a> and also integrate other accounting software with ultimate ease<span style=\"font-weight: 400;\">. These invoices get auto-categorised under GSTR-1 and can be viewed under the Accounting and Taxes section on the Open dashboard.\u00a0<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">How can <\/span><span style=\"font-weight: 400;\">filing GSTR-1 via Open<\/span><span style=\"font-weight: 400;\">\u2019s Tax module benefit you?<\/span><\/h4>\n<p><strong>1. Process end-to-end filing &#8211; <\/strong>Upload bulk invoices for various sections of GSTR-1 and file returns simply via EVC OTP verification.<\/p>\n<p><strong>2. Auto-classification of invoices in GSTR-1 sections &#8211; <\/strong><span style=\"font-weight: 400;\">Open enables you to monitor all your invoices created under respective GSTR-1 sections.<\/span><\/p>\n<p><strong><span style=\"font-size: 14pt;\">3. Ensure 100% accurate returns filing &#8211; <span style=\"font-weight: 400;\">Edit invoices with errors at any time and re-upload error-free invoices on the portal with ease.<\/span><\/span><\/strong><\/p>\n<p><strong><span style=\"font-size: 14pt;\">4. Analyse invoices based on different sections &#8211; <\/span><\/strong><span style=\"font-weight: 400;\">Drill down to the invoice level from the selected section for precision; oversee HSN reports.<\/span><\/p>\n<p><strong><span style=\"font-size: 14pt;\">5. Track the filing status of your business &#8211; <\/span><\/strong><span style=\"font-weight: 400;\">Get a complete overview of all your return filing on a single dashboard.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Now, let us quickly traverse through how easy it is to <\/span><\/i><b><i>file GSTR-1 with Open<\/i><\/b><i><span style=\"font-weight: 400;\">.<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-20192 aligncenter\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Untitled-design-1.png\" alt=\"File your GSTR-1\" width=\"495\" height=\"278\" \/><\/p>\n<h3><strong>File your GSTR-1 with Open<\/strong><\/h3>\n<p>In the GSTR-1 section you can view the list of sections, choose the sections that you wish to upload on the GST portal.<\/p>\n<p>&nbsp;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-20218\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Screenshot-2022-06-01-at-2.44.13-PM.png\" alt=\"File your GSTR-1\" width=\"935\" height=\"348\" \/><\/p>\n<p>To start with, choose the applicable period on the left top. You can view the cumulative tax value, along with the transaction value under the selected section. You can now proceed to save the details for the <b><i>Ready to Upload <\/i><\/b>sections.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-20219\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Screenshot-2022-06-01-at-2.44.30-PM.png\" alt=\"File your GSTR-1\" width=\"931\" height=\"347\" \/><\/p>\n<p><span style=\"font-weight: 400;\">To ensure precision, you can view the invoices with errors in the top right corner. You can rectify the necessary information from the list of invoices available under Sales section on your dashboard. Once you have the error-free invoices listed, you may click on <\/span><b>Push to GSTN<\/b><span style=\"font-weight: 400;\"> under the <\/span><b>Returns Action<\/b><span style=\"font-weight: 400;\"> dropdown to save the rectified invoices. The Save action will upload all the invoices under the selected sections directly to the GST portal.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-20221\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Screenshot-2022-06-01-at-2.45.14-PM.png\" alt=\"File your GSTR-1\" width=\"932\" height=\"348\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>Just insert the username once, to proceed. You will receive an <b>OTP<\/b> (One Time Password) on your <b>registered mobile number <\/b>for verification. Fill in the OTP and you are good to go with save your returns details on the portal.<\/p>\n<p><i><span style=\"font-weight: 400;\">*<\/span><\/i><i><span style=\"font-weight: 400;\">Note<\/span><\/i><i><span style=\"font-weight: 400;\"> &#8211; Based on the validity of API access of the user (validity can either be 6 hours or 30 days), the user can upload the details to Push to GSTN.\u00a0<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-20222\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Screenshot-2022-06-01-at-2.45.34-PM.png\" alt=\"File your GSTR-1\" width=\"931\" height=\"613\" \/><\/p>\n<p><span style=\"font-weight: 400;\">In case of an authentication error, a pop-up may appear to enable you to manage your API access from the GST portal.\u00a0<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">*<\/span><\/i><i><span style=\"font-weight: 400;\">Note<\/span><\/i><i><span style=\"font-weight: 400;\"> &#8211; Once the user enables API access in the GSTN portal, he can seamlessly file GSTR-1 as many times as he wants<\/span><\/i><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-20223\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Screenshot-2022-06-01-at-2.45.55-PM.png\" alt=\"File your GSTR-1\" width=\"931\" height=\"346\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Once the data is uploaded, you can proceed with filing the returns. Fill in your PAN details to receive an EVC OTP (Electronic Verification Code One Time Password) on your registered mobile number. Insert the EVC OTP to successfully file your GSTR-1.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-20224\" src=\"https:\/\/open.money\/blog\/wp-content\/uploads\/2022\/05\/Screenshot-2022-06-01-at-2.48.11-PM.png\" alt=\"File your GSTR-1\" width=\"930\" height=\"612\" \/><\/p>\n<p><span style=\"font-weight: 400;\">With Open, it gets easier to stay on top of all your tax and compliance tasks. <\/span><a href=\"https:\/\/app.open.money\/register?user_interest=tax\"><span style=\"font-weight: 400;\">Signup now<\/span><\/a><span style=\"font-weight: 400;\"> to narrow in to how you can make the most out of Open\u2019s GST module.<\/span><\/p>\n<p>[su_button url=&#8221;https:\/\/register.open.money\/compliance\/?utm_source=button_bottom&amp;utm_medium=image&amp;utm_campaign=GSTR-1_Filing&#8221; target=&#8221;blank&#8221; background=&#8221;#663399&#8243; size=&#8221;7&#8243; center=&#8221;yes&#8221; icon_color=&#8221;#663399&#8243;]File your GSTR-1 now![\/su_button]<\/p>\n","protected":false},"excerpt":{"rendered":"For any GST (Goods and Services Tax) registered business, the most important thing is timely filing of Returns&hellip;","protected":false},"author":56,"featured_media":20210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","footnotes":""},"categories":[454],"tags":[238,242,53,239],"class_list":{"0":"post-20189","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-taxes","8":"tag-file-gstr-1","9":"tag-gst-compliance","10":"tag-open-banking","11":"tag-tax-and-compliance","12":"cs-entry"},"_links":{"self":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/20189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/comments?post=20189"}],"version-history":[{"count":0,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/20189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/media\/20210"}],"wp:attachment":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/media?parent=20189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/categories?post=20189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/tags?post=20189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}