Tax Reports Overview
What are Tax Reports?
Tax Reports provide GST compliance reporting for Indian businesses, helping you track tax liabilities, input tax credits, and prepare statutory returns. These reports summarize inward and outward supplies with complete tax breakdowns required for GST filing.
Who Uses This?
Finance Teams
Track tax liabilities and prepare GST returns
Accountants
Reconcile tax amounts and verify compliance
Business Owners
Monitor tax obligations and input credits
Tax Consultants
Prepare statutory filings and returns
Available Tax Reports
Invoice Furnish Facility (IFF)
Summary of invoices issued under Invoice Furnish Facility for GST compliance.
Use When:
- Preparing IFF returns for GST portal
- Tracking outward supplies under IFF scheme
- Reconciling invoice-level tax data
Key Information:
- Transaction descriptions
- IGST, CGST, SGST breakdowns
- Invoice totals by tax type
Summary of Inward Supplies
Detailed listing of all purchases and bills received with tax breakdowns.
Use When:
- Claiming input tax credit (ITC)
- Verifying supplier GST payments
- Reconciling purchase tax amounts
- Preparing GSTR-2 data
Key Information:
- Supplier-wise bill details
- Tax amount breakdowns (CGST, SGST, IGST)
- Bill numbers and dates
- Grand total per transaction
Summary of Outward Supplies
Complete listing of all sales invoices issued with tax calculations.
Use When:
- Preparing GSTR-1 returns
- Tracking output tax liability
- Verifying customer invoices
- GST reconciliation and filing
Key Information:
- Customer-wise invoice details
- Tax collected (CGST, SGST, IGST)
- Invoice numbers and dates
- Export options (GSTR-1 format)
Tax Summary
Consolidated view of all tax liabilities and input credits for a period.
Use When:
- Calculating net GST payable
- Comparing output vs input tax
- Preparing GSTR-3B returns
- Monthly tax liability assessment
Key Information:
- Total output tax (liability)
- Total input tax credit (ITC)
- Net tax liability or refund
- Tax type wise summary (IGST, CGST, SGST)
How Tax Reports Work
Standard Workflow
- Select Report Type - Choose from 4 available tax reports
- Select Period - Pick month, quarter, or custom date range
- Run Report - System generates data from all transactions
- Review Results - Analyze tax breakdowns and totals
- Export Data - Download for GST filing or record-keeping
Common Report Filters
All tax reports share these filter options:
| Filter | Options | Purpose |
|---|---|---|
| Month | Select specific month from dropdown | View single month's tax data |
| Quarters | Q1, Q2, Q3, Q4 | Quarterly GST return preparation |
| Date Range | Custom start and end dates | Flexible period analysis |
Understanding GST Components
Tax Type Breakdown
| Tax Type | Full Name | When Applied | Rate Structure |
|---|---|---|---|
| IGST | Integrated GST | Interstate transactions | 0%, 5%, 12%, 18%, 28% |
| CGST | Central GST | Intrastate transactions (Central portion) | 0%, 2.5%, 6%, 9%, 14% |
| SGST | State GST | Intrastate transactions (State portion) | 0%, 2.5%, 6%, 9%, 14% |
Note: For intrastate supplies, total GST = CGST + SGST (both equal amounts). For interstate supplies, only IGST applies.
Key Benefits
Compliance Made Easy
- GST-ready formats matching government requirements
- Automated calculations eliminating manual errors
- Complete audit trail for all transactions
- Period-wise segregation for filing returns
Time Savings
- Instant report generation with one click
- Pre-filled data from invoices and bills
- Export capabilities for direct filing
- Historical access to past reports
Getting Started
| Task | Guide | Time Required |
|---|---|---|
| Run IFF Report | IFF Guide | 2 minutes |
| Check Input Tax Credit | Inward Supplies Guide | 3 minutes |
| Verify Output Tax | Outward Supplies Guide | 3 minutes |
| Calculate Net GST Liability | Tax Summary Guide | 2 minutes |
Related Sections
- Business Reports - Financial statements and accounting reports
- Sales Reports - Customer and sales analysis
- Purchase Reports - Supplier and procurement reports
- Finance Module - Credit notes, debit notes, and journals
- GSTR-1 Filing - Export your GSTR-1 for the portal and mark it filed
- GSTR-3B - Prepare your GSTR-3B in Tax Compliance
Quick Tips
Best Practices
- Run tax reports at month-end before GST filing deadlines
- Cross-verify totals with accounting books before submission
- Keep exported reports as backup for audit purposes
- Review inward supplies to ensure all ITC is claimed
- Check for zero-rated and exempt supplies separately
Need help? Contact support at support@bizconnekt.com