- What is GSTR 1?
- Headings of GSTR-1
- Eligibility of filing GSTR-1
- Process of filing GSTR 1
- Due Date for filing GSTR 1
- Particulars to be filed under GSTR 1
- Name of the Registered Person
- Aggregate Turnover in the preceding Financial Year
- Taxable Outward Supplies to a Registered Person (B2B)
- Taxable Outward Supplies to a Consumer (B2C)
- Zero Rated Supplies and Deemed Exports
- Taxable Outward Supplies to a Consumer (B2C other than point 5)
- Nil Rated, Exempt, and Non-GST Outward Supplies
- Amendments to Details of Outward Supplies of Earlier Tax Periods
- Amendments to Details of Outward Supplies of earlier Tax Periods
- Documents issued
- Common mistakes you should avoid
- Late Fee and Penalty charged
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 11th of the 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.
Headings of GSTR-1
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:
|Table 1,2 and 3||GSTIN (Goods and Services Taxpayer Identification Number) and aggregate turnover in the preceding year|
|Table 4||Taxable outward supplies made to registered persons (including UIN-holders) other than Zero-rated supplies and Deemed Exports.|
|Table 5||Taxable outward inter-State supplies to un-registered persons where the invoice value is more than INR 2.5 Lakh.|
|Table 6||Details of Zero-rated supplies and Deemed Exports. Like POS (Place of Supply of Goods and Services)|
|Table 7||Details of Taxable supplies (Net of debit notes and credit notes) to unregistered persons other than the supplies covered in Table 5.|
|Table 8||Details of Nil rated, exempted and non-GST outward supplies.|
|Table 9||Details of debit notes, credit notes, refund vouchers issued during the current period and any amendments to taxable outward supply details furnished in the GSTR1 returns for earlier tax periods in Tables 4, 5 & 6.|
|Table 10||Details of debit note and credit note issued to unregistered person.|
|Table 11||Details of Advances Received/Advance adjusted in the current tax period or Amendments of information furnished in the earlier tax period.|
|Table 12||HSN-wise summary of outward supplies.|
|Table 13||Documents issued during the tax period.|
Eligibility of filing GSTR-1
Every GST registered person has to file GSTR-1. But there are some exceptions to this rule:
- Input Service Distributor. They 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 a return in GSTR 4.
- Tax Deductor at source under Section 51. They have to file a return under GSTR 7.
- A tax collector at Source under Section 52. They have to file a return in GSTR 8.
Process of filing GSTR 1
- Step 1: A taxpayer is required to log in 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 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 the 11th of the succeeding month.
For example- 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
Particulars to be filed under GSTR 1
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 the taxpayer will be auto-filled at the time of return filing in the 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 filed only in the first year of GST. Another 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 operators 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 operators attracting TCS.
Zero Rated Supplies and Deemed Exports
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 operators.
Nil Rated, Exempt, and Non-GST Outward Supplies
This head will include all kinds 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 the current tax period in point 4,5 or 6 for an 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 the current tax period in point 7 (sale to the unregistered end consumer) for an 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 the 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 points 4, 5, 6 or 7 of the 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 categorized on the basis of HSN codes.
Common mistakes you should avoid
The range of mistakes while filing the GSTR-1 ranges from as small as feeding in incorrect HSN codes, Service Accounting codes, or as big as mentioning incorrect GSTIN, charging incorrect rates of tax, treating a sale as intra-state instead of inter-state sale and so on.
Late Fee and Penalty charged
In case you don’t file GSTR-1, there is a fee of Rs.50 per day and Rs.20 for nil return. These charges are applicable after the due date is passed.
GSTR 1 is the comprehensive return where detailed information is required to be furnished. Proper invoicing and documentation would be the key features to furnish the correct information in such a 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. You can also clear your doubts by simply calling us at +91 8750008585 or emailing us the same at [email protected].