GST Return Compliance: Reporting Outward Supplies and ITC for January–March 2026

Businesses registered under GST must regularly report their outward supplies, input tax credit (ITC) claimed, and net tax payable through periodic GST returns. Taxpayers with higher turnover or those not opting for the QRMP scheme are required to comply with monthly reporting obligations.

Who Needs to File This Return?

The following taxpayers are required to furnish the summary of outward supplies, ITC claimed, and net tax payable for the quarter January–March 2026:

• Businesses with aggregate turnover exceeding Rs. 5 crore in the previous financial year, or

• Taxpayers who have not opted for the QRMP (Quarterly Return Monthly Payment) scheme

  Need help with this? Talk to RAVNEET SINGH & CO. →

These taxpayers must file their GST return on a monthly basis, ensuring accurate reporting of their tax liability and input credits.

Key Details to Be Reported

While filing the return, taxpayers must ensure proper disclosure of:

• Outward supplies (sales) made during the tax period

• Input Tax Credit (ITC) claimed on eligible purchases and expenses

• Net GST liability payable after adjusting eligible ITC

• Payment of tax through electronic cash or credit ledger

Accurate reporting is important to avoid notices, penalties, and reconciliation issues with other GST filings.

Legal Framework and References

The requirement to furnish these details arises from the GST return provisions, including:

• Section 39 of the CGST Act, 2017 – Furnishing of GST returns

• Rule 61 of the CGST Rules, 2017 – Form and manner of submission of returns

• CBIC Notifications and GST Portal guidelines governing monthly return filing procedures

Why Timely Filing Matters

Timely filing of GST returns helps businesses:

• Avoid late fees and interest liabilities

• Maintain smooth ITC flow in the supply chain

• Ensure accurate compliance records with the GST department

Businesses should maintain proper documentation and reconcile their sales, purchases, and ITC regularly to prevent discrepancies.

Conclusion

GST compliance requires careful tracking of outward supplies, input tax credits, and tax liabilities. Businesses with turnover exceeding Rs. 5 crore or those outside the QRMP scheme should ensure their returns for the January–March 2026 period are filed accurately and within the prescribed timelines.