What is GSTR 1?
GSTR 1 prescribes the details to be provided by the taxpayer in relation to outward supplies made to the buyer for the relevant period. GSTR 1 needs to be filed by every taxpayer except Composition Scheme taxpayers, Non-Resident Foreign taxpayers, TDS deductors, E commerce Operators and Input Service Distributors as there are separate returns for them. This return is required to be filed by the 10th of subsequent month. (Example: GSTR-1 for the transaction month of April has to be filed before 10th May).
The government has notified new GST Return formats in this regard and removed the mandatory requirement to quote HSN codes for goods and SAC codes for services in each table. The GST Return Formats have been updated to ease the process and simplify compliance for taxpayers under GST.
GSTR 1 has a total of 13 headings, the taxable person need not worry as most of these will be pre-filled. But we need to understand certain terms:
- GSTIN – Goods and Services Taxpayer Identification Number
- UIN – Unique Identification Number
- UQC – Unit Quantity Code
- HSN – Harmonised System of Nomenclature
- SAC – Services Accounting Code
- POS – Place of Supply of Goods and Services
- B2B – From one registered person to another registered person
- B2C – From registered person to unregistered person
Process of filing GSTR 1
- Step 1 : A taxpayer is required to login at GST Portal by using his user ID & Password
- Step 2 : After Successfully login, user can see his dashboard
- Step 3 : Now click on “Service Menu” and then click on Returns and you will reach at GST Return Page. This section shows all the services available on the GST portal. You can select one to proceed further.
Due Date for filing GSTR 1
The due date to file GSTR1 is 10th of the succeeding month.
•Forexample- For the month of October, GSTR 1 has to be filed before 10th November.
However, this schedule will start from October, 2017 and for the interim period different dates has been provided to file GSTR 1 which are as follows:
- 1st to 5th September for July,2017
- 16th to 20th September for August,2017
Dealers who don’t have to file GSTR 1
- Input Service Distributor. The will have to file GSTR 6.
- Non-Resident Taxable person. They will be filing GSTR 5.
- Composition Scheme Taxpayer under section 10. The person opting for Composition Scheme has to file return in GSTR 4.
- Tax Deductor at source under Section 51. The have to file return under GSTR 7.
- Tax collector at Source under Section 52. They have to file return in GSTR 8.
Particulars to be filed under GSTR 1
- GSTIN – Each taxpayer will be allotted a state-wise PAN-based 15-digit Goods and Services Taxpayer Identification Number (GSTIN). A format of proposed GSTIN has been shown in the image above. The identification of taxpayer will be auto-filled at the time of return filing in future.
- Name of the Registered Person – Name of the taxpayer, will be auto-filled at the time of logging into the common GST Portal. Trade Name, if any, should be separately provided.
- Aggregate Turnover in the preceding Financial Year – This information is required to be filled only in the first year of GST. Other year onwards it will be auto-filled by the details of the previous year.
- Taxable Outward Supplies to a Registered Person (B2B) – All taxable supplies are required to be filled in this section. Supply here includes any supply under reverse charge mechanism or made through e-commerce operator attracting TCS. In the case of inter-state, only IGST would be filed. Similarly, in the case of intra-state supplies, CGST and SGST would be filed.
- Taxable Outward Supplies to a Consumer (B2C) – Under this heading, the taxpayer is required to fill in details of inter-state supplies made to an unregistered end consumer where the invoice value is more than 2.5 lakh. There is also a separate column for sales made through e-commerce operator attracting TCS.
- Zero Rated Supplies and Deemed Exports – This head will include all kinds of Zero Rated Supplies like exports (including deemed exports) and sale to SEZ. Noticeably, such supplies will only attract IGST.
- Taxable Outward Supplies to a Consumer (B2C other than point 5) – Under this heading, the taxpayer is required to provide details of all the supplies made to an end consumer which were not covered in point 5. This means all intra-state supplies and inter-state supplies with invoice value less than Rs. 2.5 Lakhs with separate disclosure for supplies through e-commerce operator.
- Nil Rated, Exempt, and Non-GST Outward Supplies – This head will include all kind of Nil Rated, Exempt and Non-GST Supplies irrespective of inter-state or intra-state supplies. If already included in any of the heading under 5, 6, or 7, the taxpayer can furnish only Non-GST supplies here.
- Amendments to Details of Outward Supplies of Earlier Tax Periods – Any kind of amendment made in current tax period in point 4,5 or 6 for earlier tax period is required to be furnished in this section. This includes original debit notes, credit notes and refund vouchers issued during current and their corresponding amendments.
- Amendments to Details of Outward Supplies of earlier Tax Periods – Any kind of amendment made in current tax period in point 7 (sale to unregistered end consumer) for earlier tax period is required to be furnished in this section. This includes intra-state, inter-state and e-commerce supplies corresponding to them.
- Tax Liability of Amount Received in Advance – Any kind of advance amount received against a supply to be made or invoice to be issued in future must be reported in this section. Registered person is required to pay GST on such advance as tax liability for the period in which such advance is received. Further, information regarding adjusting of advance against any supply in point 4, 5, 6 or 7 of previous period is also to be reported here. There is a separate column for amendments for earlier tax periods.
- HSN-wise summary – All outward supplies must be reported in this section categorised on the basis of HSN codes.
- Documents issued – All documents issued are required to be disclosed here. This includes all invoices, revised invoices, debit/ credit notes, receipt/ payment/ refund vouchers.
GSTR 1 is the comprehensive return where detailed information is required to be furnished. Proper invoicing and documentation would be key feature to furnish the correct information in such return.
In case you are confused about GST as a business owner, feel free to consult the GST experts at LegalRaasta. You can get comprehensive assistance on GST Registration and GST Return Filing online. You can also use our GST software for doing end-to-end GST compliance.