GSTR-1 Filed Report: Importance and uses

‘Monthly GSTR-1 Filed Report’ helps the user get the filing status of GSTR-1 for a particular GSTIN across a selected period. This report facility is available on the ClearTax GST software. 

What is the Monthly GSTR-1 Filed Report

The Report provides a taxpayer with a brief status of the filed GSTR-1s in a particular financial year or across financial years. Further, the invoice level or summary level information of the filed data is made available for the user’s study. The report can be easily shared with the stakeholders in an editable excel form.

Importance of the Monthly GSTR-1 Filed Report

• The ‘Monthly GSTR-1 Filed Report’ helps a user stay up-to-date with the real-time status of all GSTR-1 returns for any particular GSTIN.
• A user can check this data across multiple GSTINs, and across multiple branches.
• A user can get a separate comparable data of all past returns filed, which can be stored and shared with stakeholders and clients.
• This report can help avoid GST notices by the tax department. In turn, this helps the taxpayer keep track of his returns filed, and stay 100% compliant.

How can ClearTax GST help you?

ClearTax GST Software offers easy to import and download of GST data for preparation of GST returns. It provides various options for a user to ingest data to prepare the GSTR-1, GSTR-3B or GSTR-4 in minutes. Options like excel ingestion or direct integration with ERP are available for importing sales or purchase data into ClearTax GST software. A user has to import the sales data for GSTR-1 just once. Based on this, the software auto-populates the details into GSTR-3B  at the click of a button. Thus, one can avoid errors and ensure 100% accuracy in reporting of data with minimal manual intervention.

ClearTax GST also provides useful insights under the ‘Reports’ section so you can speed through the journey of GST compliance in a hassle-free way! One such report is the ‘Monthly GSTR-1 Filed Report’; this report can be obtained for any time period either within the financial year or across several financial years. Even if the user has not filed the return on the Cleartax GST software in the past, the report section will allow the user to download this data from the GST portal using one-time verification. Apart from getting a real-time update of the GSTR-1 filing status the user can also sort the invoice level data of the GSTR-1 filed across different time periods and download it in excel form for further use.  

Advantages of the Monthly GSTR-1 Filed Report

• A user dealing with multiple GSTINs, which could be several branches or clients, can easily get the real-time status of all GSTR-3Bs in one place.
• A taxpayer can download data from the GSTN at the click of a button, even if he hasn’t been filing returns using the Cleartax GST software.
• This report can help taxpayers get data at an invoice level or the summary data for easy use.
• The summary or invoice level data can be further sorted and used in an excel form.
• This report can be downloaded in the excel format and shared within an organisation. In the case of CA firms, this report can be easily shared with clients.

How to use the Monthly GSTR-1 Filed Report

Step 1: Login to your Cleartax GST account and click on the ‘Reports’ tab against the particular GSTIN.

Step 2: Click on the Report- ‘GSTR-1 Filed Report’ on the Reports dashboard.

Step 3: Select the financial year and the period from the drop-down appearing on the top right-hand corner of the page.     If the ClearTax GST software is being used, then the entries appear automatically. On changing the period, the data will be updated. Accordingly, the user can continue sorting and downloading data in excel for further use or comparison with GSTR-3B data.    

Step 4: Download the report by clicking on ‘Download all invoices as Excel’ to use and share the report in an excel form.  

ClearTax offers a FREE integrated tool for GST registered businesses to track and check their compliance level for GST Returns filed. Every GSTIN can now access the GST Health Check tool to get the following result in an excel form:

• A health check summary
• GST returns filing status
• GSTR-1 vs GSTR-3B report (tax difference)
• GSTR-3B vs GSTR-2A report (ITC difference)
• Vendor Compliance report

Try out the GST health check tool and check your GSTIN’s health now!

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