HOW TO FILE GSTR -1 RETURN

HOW TO FILE GSTR -1 RETURN 

 

What is GSTR-1, Who is required file to GSTR-1 ?

GSTR-1 is monthly  statement of outward supplies to be furnished by all registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies of goods and services.

Every registered taxable person, other than an input service distributor/compounding taxpayer/TDS Deductor/TCS Collector is required to file GSTR-1, the details of outward supplies of goods and/or services during a tax period, electronically on the GST Portal.

  When  can i opt for quarterly filing of GSTR -1 Return ?

You can opt for Quarterly filing of GSTR-1 return under following conditions:

• In case, you are an existing taxpayer and has been enrolled with GST Portal and your aggregate turnover during FY 2016-2017 was upto Rs. 1.5 Crores
• In case, you have registered on the GST Portal after 1st July 2017 and expect your aggregate turnover during FY 2017-2018 to be upto Rs. 1.5 Crore.
  
  

  Is GSTR-1 filing is Mandatory ? 

  GSTR-1 needs to be filed even if there is no business activity (Nil Return) in the tax period.
  
  
   

What are the mode available GSTR-1 filing. 

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

1. Online entry on the GST Portal

2. Uploading of invoice and other GSTR-1 data using Returns Offline Tool

3. Using third party application of Application Software Provider (ASPs) through GST Suvidha Providers (GSPs)

What details have to  be furnish   in GSTR-1 ?

The following details of a tax period have to be furnished in GSTR-1:

a. Invoice level details of supplies to registered persons including those having UIN

b. Invoice level details of Inter- state supplies of invoice value greater than equal to INR 2,50,000 to unregistered persons (consumers)

c. Details of Credit/Debit Notes issued by the supplier against invoices

d. Details of export of goods and services including deemed exports (SEZ)

e. Summarised state level details of supplies to unregistered persons (consumers)

f. Summary Details of Advances received in relation to future supply and their adjustment

g. Details of any amendments effected to the reported information for either of the above categories.

h. Nil- rated, exempted, and non-GST supplies

i. HSN/SAC wise summary of outward supplies

Which types of registered taxpayers are not required to file the GSTR-1 

The following taxpayers are not required to file GSTR-1:

• Taxpayers under the Composition Scheme (Return to be filled by them in GSTR 4)
• Non-resident foreign tax payers (Return to be filled by them in GSTR 5)
• Online information database and access retrieval service provider (Return to be filled by them in GSTR 5A)
• Input Service Distributors (ISD) (Return to be filled by them in GSTR-6)
• Tax Deducted at Source (TDS) deductors (Return to be filled by them in GSTR 7)
• E-commerce operators deducting TCS (Return to be filled by them in GSTR 8)