GST Returns — Reconcile First, File Second
GST return filing is not simply a matter of entering figures and submitting a form. Accurate returns depend on reliable sales data, purchase records, tax calculations, input tax credit review and reconciliation.
Investax India helps businesses organise their GST data, reconcile relevant records, review input tax credit and prepare the applicable GST returns through a structured compliance process.
What Is GST Return Filing?
GST return filing is the process through which registered taxpayers report applicable information relating to their supplies, tax liability, input tax credit and other required details to the GST authorities.
The return or statement applicable to a taxpayer depends on factors such as the taxpayer's registration type, business activities, filing scheme and other applicable provisions.
Our GST Return Filing Services
GSTR-1 Filing
GSTR-1 is used for reporting applicable details of outward supplies of goods and services. We help organise sales and invoice data and prepare the relevant information for filing.
GSTR-3B Filing
We assist with preparation of applicable GSTR-3B information, including review of outward tax liability, eligible input tax credit and other relevant figures before filing.
GST Reconciliation
We reconcile relevant records such as sales registers, purchase records, books of accounts, GST returns and available portal data to identify differences before filing.
Input Tax Credit Review
Input tax credit requires careful review. We help compare eligible credit with relevant records and available GST portal information before considering the credit for the applicable return.
GST Return Review
Before filing, we review the prepared return information to identify apparent inconsistencies, missing information or reconciliation differences that may require attention.
Ongoing GST Compliance
We can provide continuing GST compliance support so that return preparation becomes part of a structured monthly or quarterly compliance process, as applicable.
GSTR-1 — Reporting Outward Supplies
GSTR-1 is the statement used for reporting applicable details of outward supplies. Depending on the nature of transactions, relevant information can include business-to-business supplies, exports, credit and debit notes, amendments and other applicable outward-supply details.
The GST Portal also provides functionality for relevant information from e-invoicing to be used while preparing GSTR-1, where applicable.
GSTR-3B — Summary Return
GSTR-3B is a summary return used by applicable taxpayers to report relevant outward supplies, tax liability and input tax credit and to discharge the applicable tax liability.
We review the underlying records and relevant reconciliation information before preparing the applicable figures for filing.
GSTR-2B & Input Tax Credit
GSTR-2B is an auto-drafted, read-only statement that provides information relating to input tax credit based on data furnished by suppliers and other applicable sources.
The GST Portal advises taxpayers to reconcile GSTR-2B with their own records and books and to ensure that credit is not availed twice and that applicable reversals are appropriately dealt with in GSTR-3B.
Our ITC Review Approach
- Review available GSTR-2B information
- Compare relevant purchase records
- Identify unmatched or missing documents
- Review potentially ineligible or reversible credit
- Check for duplicate credit
- Prepare the applicable ITC position for return filing
GST Reconciliation
Reconciliation is an important part of accurate GST compliance. Differences between books, sales records, purchase records and GST portal data can create avoidable compliance issues if they are not identified and reviewed.
Records We Can Reconcile
- Books of accounts
- Sales register
- Purchase register
- GSTR-1
- GSTR-3B
- GSTR-2B
- E-invoice data, where applicable
- Other relevant GST records
Our GST Return Filing Process
- Collect Data — Obtain the relevant sales, purchase, tax and accounting information.
- Review Records — Check the information for completeness and apparent inconsistencies.
- Reconcile — Compare relevant books, registers and GST portal data.
- Review ITC — Examine the applicable input tax credit position.
- Prepare Returns — Prepare the applicable GST return or statement.
- Final Review — Review the return information before filing.
- File & Maintain Records — Complete the filing process and maintain relevant records.
Common GST Return Filing Mistakes
- Filing without reconciling sales data
- Claiming ITC without adequate review
- Ignoring differences between books and GST portal data
- Duplicate or incorrect ITC claims
- Incorrect reporting of outward supplies
- Incorrect treatment of credit and debit notes
- Ignoring amendments and corrections
- Missing applicable filing requirements
- Failing to maintain supporting records
GST Return Filing for Different Businesses
GST compliance requirements can vary according to the nature and structure of a business. Our support can be tailored for:
- Traders and distributors
- Manufacturers
- Service providers
- Startups and growing businesses
- E-commerce businesses
- Exporters and importers
- Professional service businesses
- Other GST-registered businesses
GST Return Filing & Compliance Support
Our GST support can extend beyond individual return filing. Depending on your requirements, we can assist with GST registration, return filing, ITC reconciliation, e-invoicing, e-way bill compliance, amendments, refunds and GST notice-related support.
Why Choose Investax India?
Reconciliation-Focused Approach
We focus on reviewing and reconciling relevant information before filing rather than treating return filing as a simple data-entry exercise.
Structured Compliance Process
Our process follows a clear sequence of data collection, review, reconciliation, preparation and filing.
Business-Focused Support
We consider your business activities and applicable GST requirements when supporting the return filing process.
Ongoing Compliance
For businesses requiring continuing support, GST return filing can be integrated into a regular compliance process.
Frequently Asked Questions
What is GSTR-1?
GSTR-1 is the applicable statement for reporting details of outward supplies. The specific information required depends on the nature of the taxpayer and transactions.
What is GSTR-3B?
GSTR-3B is a summary return used by applicable taxpayers to report relevant tax liability and input tax credit and discharge the applicable tax liability.
What is GSTR-2B?
GSTR-2B is an auto-drafted, read-only ITC statement. It is not itself filed by the taxpayer and can be used as part of the ITC review process for GSTR-3B.
Should GSTR-2B be reconciled with books?
Yes. The GST Portal advises taxpayers to reconcile GSTR-2B with their own records and books and to exercise appropriate care while determining eligible ITC.
Can Investax India handle regular GST return filing?
Yes. We can provide continuing GST return and reconciliation support according to the applicable filing requirements of your business.
File GST Returns With Greater Clarity
Accurate GST compliance starts before the return is submitted. Investax India helps you organise records, reconcile relevant data, review ITC and prepare applicable GST returns through a structured process.
GST Returns | GSTR-1 | GSTR-3B | ITC Reconciliation | GSTR-2B Review | GST Compliance