What is GSTR-1 ?, Who Should File GSTR-1?, Due Date, Format

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What is GSTR-1 ?

What is GSTR-1 ?

It is a Monthly or Quarterly  Statement of Outward Supplies (i.e. Sales made or Services Rendered) to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services

Who is Required To File GSTR-1 ?

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Every registered taxable person is required to file GSTR-1 regardless of whether any transactions occur during the month or not (i.e Nil Return to be filed, even if there are not any sales made or services rendered during the month ).

Every registered taxable person, except the following:

  • Non-resident Taxable Person (NRTP) (GSTR-5);
  • Input Service Distributor (ISD). (GSTR-6);
  • Online Information and Database Access or Retrieval Services (GSTR-5A);
  • The person covered under Composition Scheme (GSTR-4);
  • Person Deducting Tax Deducted at Source (TDS) (GSTR-7);
  • Person Collecting Tax Collected at Source (GSTR-8).

Note: Because these taxpayers need to file return other than GSTR-1, as shown above.

Is filing Nil GSTR-1 mandatory?

It needs to be filed even if there are not any transactions (Nil Return) in the tax period.

How to file Nile GSTR-1 ?

Nil GSTR-1 can be filed  by first Generating Summary and then submitting the return without entering any data and signing with applicable signature.

Is DSC mandatory for filing returns?

DSC is mandatory in case of all Public & Private Limited Companies, Limited Liability Partnerships (LLPs), and Foreign Limited Liability Partnerships (FLLPs).

What is the due date for filing the GSTR-1?

The GSTR-1 due dates are based on the turnover.

Quarterly return: Businesses Turnover upto Rs. 1.5 crore.

Monthly return: Businesses Turnover above Rs. 1.5 crore.

Monthly Return Due Date:

The due date to file Form GSTR-1 for a given tax period is the 11th day of the succeeding month in case of taxpayers filing it monthly return.

Quarterly Return Due Date:

Last date of the month succeeding the end of every quarter in case of taxpayers filing a quarterly return or such other dates as may be extended by Government through notification.

For example,

  • Form GSTR-1 for the calendar month of January 2020 needs to be filed by 11th February 2020. 
  • Form GSTR-1 for the quarter of January to March 2020, need to be filed by 30th April 2020.

What are the available modes of preparation?

GSTR-1 can be prepared using the following ways through:

  1. Uploading of invoice and other GSTR-1 data using Returns   Offline Tool.
  2.  Online entry on the GST Portal.
  3. Using third party application of Application Software Provider (ASPs) through GST Suvidha Providers (GSPs).

What are the details to be furnished in this Return ?

  1. Invoice level details of supplies to registered persons including (UIN-holder);
  2. Invoice level details of Inter- State supplies of invoice value greater than Rs. 2,50,000 to unregistered persons (consumers);
  3. Details of Credit/Debit Notes issued by the supplier against invoices;
  4. Details of export of goods and services including deemed exports (SEZ);
  5. Summarised state level details of supplies to unregistered persons (consumers);
  6. Summary Details of Advances received in relation to future supply and their adjustment;
  7. Details of any amendments effected to the reported information for either of the above categories;
  8. Nil- rated, exempted, and non-GST supplies; and
  9. HSN/SAC wise summary of outward supplies.

Formats Under GSTR-1 ?

Coming Soon….

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