The CBIC extends the last date for filing GSTR-9 and GSTR-9C for the FY 2017-18 and 2018-19 A t...
This article will focus on the meaning, applicability, benefits of GSTR 1 and the recent amendments made.
GSTR 1 form is a GST return form for the taxpayers to file the details of outward supplies every 11th of the following month for those who cross the turnover of more than 1.5 crores.
The taxpayers, whose turnover is less than 1.5 crores, will have to file quarterly returns.
The following are the contents of GSTR 1:
The GSTR 1 form contains 13 sections in total displayed in the tabular form:
Table 1, 2 & 3
It contains the details of GSTIN & the aggregate turnover in the preceding year.
It contains the details of the taxable outward sales or supplies made to registered persons except for the zero-rated supplies and deemed exports.
It contains the details of taxable outward sales or supplies made to unregistered persons not more than the value of Rs. 2.5 lakhs.
It contains the details of zero-rate supply & deemed exports.
It contains the details of taxable supplies to an unregistered person, excluding the supplies covered.
It contains the details of exempted, non- GST & nil rated outward supplies.
It contains the details of the debit & credit notes, refund vouchers issued during the period & any amendments to the taxable outward supply for the earlier taxable period.
It contains the details of debit 7 credit notes to unregistered persons.
It contains the details of advances received or adjusted in the current tax period or any amendment in the information in the earlier tax period.
It contains the HSN- wise summary of outward supplies.
It entails the documents issued during the tax period.
GSTR 1 return must be filed by every taxpayer who is registered. When there was no transaction made in the month, then also GSTR 1 is to be filed. For this purpose (since the first week of July 2020), there is a way to file GSTR 1 through an SMS.
The taxpayers who are registered and do not have to file this form are:
The following steps are to be followed by the taxpayers to file GSTR 1:
Step 1 – Visit the GST portal & login using the credentials.
Step 2 – Click on the service tab.
Step 3 – Select returns & then go to the returns dashboard.
Step 4 – Select the applicable FY & Return Filing Period.
Step 5 – Click on search.
Step 6 – Under the first search result – “Details of outward supplies of goods or services”, select “Prepare Online”.
Step 7 – Select “Prepare Offline” if your number of invoices is more than 500.
Step 8 – Fill in the sections (the taxpayers have to fill only the relevant sections).
The following are the due dates of filing a GSTR 1 return:
|GSTR 1 filing||Due date|
|Monthly (to be filed if the turnover is above 1.5 crores)||11th of the subsequent month|
|Quarterly (to be filed if the turnover is below 1.5 crores)||The last date of the month following the end of the quarter|
It is important to note that once GSTR 1 has been filed, it cannot be revised. However, any mistake made can be in the next month’s or quarter’s GSTR returns.
Before the notification issued on 16th February 2021, the Penalty for not filing return was Rs. 200 per day of the delay, i.e., Rs. 100 as per the CGST Act and Rs. 100 as per the SGST Act. The late fee is charged after the due date.
However, after the notification issued on 16th February 2021, the late fees or the Penalty for not filing the GSTR 1 is Rs. 50 per day, and in case of no returns, Rs. 20 per day, from the date after the due date.
It is important to note that the late fees are currently not demanded as a part of the payment challan in the form PMT-06 at the time of filing GSTR 3B. However, the officer may demand the late fee or Penalty for the period delayed when assessing returns.
GSTR 1 is a return form filed monthly or quarterly by the taxpayer declaring their outward sales or supplies. It includes the details based on invoice, rate, and state of outward supplies or sales made during the month.
Read our article:Govt. Allows Taxpayers to File GSTR-3B Returns in a Staggered Manner