The GST Filing Lifecycle
GST compliance is the backbone of a transparent business. For most startups, this involves monthly or quarterly reporting of sales and purchases.
Data Consolidation
Gather all sales invoices and purchase bills for the month. Ensure HSN codes and GSTINs are accurate.
GSTR-1 Filing (Sales)
Report your outward supplies (sales) on the GST portal by the 11th of the following month.
ITC Reconciliation
Reconcile your purchase data with GSTR-2B to ensure you claim the correct Input Tax Credit.
GSTR-3B Filing (Payment)
Summarize sales, ITC, and pay the net tax liability by the 20th of the following month.
Documentation Checklist
- Sales Invoices (B2B & B2C)
- Purchase Vouchers
- Debit/Credit Notes
- Export/Import Documents
- GST Portal Credentials
Avoid These GST Traps
Mistakes in GST filing can lead to blocked ITC and heavy interest penalties.
Delayed Filing
Late fees of ₹50 per day (for regular taxpayers) can add up quickly.
Wrong Head Selection
Entering IGST instead of CGST/SGST is a common reason for notices.
Ineligible ITC
Claiming ITC on blocked items like food or cars without proper rules.