Stepwise guide to GST portal

The implementation of the Goods and Services Tax (GST) in India has revolutionised the tax landscape, making it simpler and more streamlined. To facilitate compliance and ensure a smooth tax filing process, the government has introduced the GST portal. In this stepwise guide, explored are the key measures on the functionalities of the portal, focusing on two important aspects: GST on insurance premium and GST portal login.

Stepwise measures

Registration

Begin by visiting the GST portal and click on the “Services” tab. Select “New Registration” and provide the required details. Complete the verification process to obtain a unique GST identification number (GSTIN).

GSTIN verification

After registration, click on “Services” and choose “Registration.” Click on “Track Application Status” to verify the status of your GSTIN application.

Login

Access the GST portal by clicking on the “Login” button on the homepage. Enter your username, password, and the captcha code to proceed.

Dashboard overview

Once logged in, you will be redirected to the dashboard, where you can view important notifications, deadlines, and updates regarding GST.

Update profile

Click on the “Services” tab, select “Registration,” and then “Amendment of Registration Core Fields” to update your profile information such as address, contact details, and authorised signatory details.

Composition scheme

If eligible, opt for the Composition Scheme by selecting “Services,” followed by “Registration,” and then “Application to Opt for Composition Levy.” Fill in the necessary details and submit the application.

Generate E-way bill

To generate an E-way bill for the transportation of goods, select “E-way Bill” from the dashboard and proceed with the necessary details.

File GSTR-1

Navigate to the “Returns” tab, choose “Returns Dashboard,” and select “GSTR-1.” Provide the requisite details of outward supplies made during the reporting period.

File GSTR-3B

Under the “Returns” tab, select “Returns Dashboard” and click on “GSTR-3B.” Fill in the details of your tax liability, input tax credit, and make the necessary payment.

Input tax credit

Verify and claim input tax credit (ITC) for purchases made by clicking on “Services,” followed by “Returns,” and then “File Returns.” Select the appropriate form (GSTR-2A) and reconcile the ITC with your purchases.

Reverse Charge Mechanism (RCM)

If applicable, pay taxes under RCM by selecting “Services,” then “Returns,” and finally “File Returns.” Choose the appropriate form (GSTR-3B) and provide the necessary details.

GST refunds

Access the “Services” tab, select “Refunds,” and then “Application for Refund” to claim a refund of excess taxes paid, input tax credit, or accumulated credit.

Track refund status

After applying for a refund, monitor the progress by clicking on “Services,” then “Refunds,” and finally “Track Application Status.”

GST on insurance premium

Understand the GST implications on insurance premium payments by referring to the GST rates applicable to insurance policies. Insurance providers are responsible for collecting and remitting the tax to the government.

GST portal help desk

In case of any queries or technical issues, visit the “Help” section on the GST portal to find FAQs, user manuals, and contact details for assistance.

File NIL returns

If you have no transactions to report, file NIL returns by selecting “Returns,” followed by “Returns Dashboard.” Choose the appropriate return form (GSTR-1 or GSTR-3B) and submit the nil return.

Annual return

Complete the annual return by selecting “Returns,” then “Returns Dashboard,” and finally “Annual Return.” Provide the necessary details of your business transactions for the financial year.

GST challan generation

Generate GST challans to make tax payments by clicking on the “Services” tab, selecting “Payments,” and then “Create Challan.” Fill in the required details and proceed with the payment.

Payment of GST

Pay your tax liabilities by navigating to the “Services” tab, selecting “Payments,” and then “Make Payment.” Choose the appropriate tax head and complete the payment process.

GST refund application tracking

Check the status of your refund application by selecting “Services,” followed by “Refunds,” and then “Track Application Status.” Enter the necessary details to track your refund.

File ITC-04

If you are engaged in the job work sector, file the ITC-04 form to report the details of inputs, semi-finished goods, and finished goods sent or received for job work.

Opting out of composition scheme

If you wish to opt-out of the Composition Scheme, access the “Services” tab, select “Registration,” and then “Application for Cancellation of Registration.”

Grievance redressal

In case of any grievances related to GST, access the GST portal’s “Services” tab, select “User Services,” and click on “Grievance Redressal Portal” to lodge a complaint.

Track grievance status

To check the status of your grievance, select “Services,” followed by “User Services,” and then “Track Grievance Status.” Enter the required details to track the progress.

Generate GST certificate

Obtain your GST certificate by selecting “Services,” then “Registration,” and finally “All Services.” Choose “Download GST Certificate” and save it for future reference.

Opting for voluntary registration

Access the “Services” tab, select “Registration,” and then “New Registration” to apply for voluntary registration under GST if your turnover is below the threshold limit.

GST annual turnover reconciliation

Reconcile your annual turnover by comparing it with the turnover reported in the GST returns. Ensure accuracy to avoid penalties or inquiries from tax authorities.

Stay updated with notifications

Regularly check the notifications section on the GST portal’s dashboard to stay informed about changes in tax rates, due dates, and other important updates.

Utilise GSTN tools

Explore various tools provided on the GST portal, such as the tax calculator, offline utility, GST Rate Finder, and FAQs, to simplify your GST-related tasks.

Conclusion

The GST portal serves as a one-stop solution for all your GST-related needs, making compliance easier, simpler, and more convenient. From registration to filing returns, generating e-way bills, and tracking refunds, the GST portal offers a range of functionalities. Understanding the GST implications on insurance premium payments is crucial for insurance providers and policyholders alike. By following the stepwise measures outlined in this guide and utilising the features of the GST portal login effectively, businesses can ensure seamless compliance with the GST regulations in India.