GST filing and reporting @ Bizgaze
Eleven different formats of GST returns that need to be filed by various kinds of taxpayers and at various times. Out of these returns, GSTR1 (outward supply), GSTR2 (inward supply), and GSTR3 (finalised details of both inward and outward supply) should be filed on a monthly basis by all businesses. Typically, businesses wait till the end of the month to manually compile all of their reports and file their taxes, which can take days to complete. In the table below, we have provided details of all the returns which are required to be filed under the GST Law.
Information about the Returns to be filed is depicted in the following Table.Different stake holders and the Due date for filing each type of return.
Summary of GST Return Structure (GSTR-1,GSTR-2,GSTR-3 and GSTR-9) for a business house and Information details given below
GSTR 1 ,2 & 3 Workflow
Business Houses need to fill in GSTR-1 and GSTR-2 & GSTR- 3 is auto populated as represented below. This mechanism is available in the portal provided by Government of India.
Preparing the GSTR-1(Sales) & GSTR-2(Purchases) is only the challenge and is directly available in our system as a report just can be downloaded in the required format by a single click.
How the Process of Filing happens is illustrated in the following figure
How GST is tailored in Bizgaze?
Bizgaze provides Business Automation Suite which is GST compliant and acquired the following Features represented in the infographic represented below apart from the normal activities of an Automation Suite