GSTR 1 is quarterly or monthly return that contains details of outward supplies of a taxpayer. It includes all the details regarding debit notes, credit notes, revised invoices and invoices related to supplies. This is filed by every registered business who has GST registration. It is a type of return that shows all the sales related transactions of a business. This return has 13 sections in total. Well this return was valid only till September 2019. This can be replaced by GST ANX-1 with effect from 1st October 2019. It is an option for taxpayers and not mandatory. In this article you can get complete information regarding GSTR 1.
GSTR 1 should be filed by every registered person who is involved in a business. Whether there are transactions during a month or not, but the assessee is required to file GSTR 1 monthly or quarterly as per the norms.
Some of the registered entities who are exempt from filing this return are as follows:
The details in this return shall be furnished by common portal electronically under section 37. Procedures for different category of taxpayers are:
There are 13 tables that are to be filled in this return with the following details:
The due dates of GSTR 1 depends on the turnover of the business.
Business organizations with sales of above Rs. 1.5 crore have to file monthly return.
The last date of filing GSTR 1 for the monthly return are as follows:
| Period (monthly) | Due dates |
|---|---|
| January 2019 | 11th February 2019 |
| February 2019 | 11th March 2019 |
| March 2019 | 11th April 2019 |
| April 2019 | 11th May2019 |
| May 2019 | 11th June2019 |
| June 2019 | 11th July2019 |
| July 2019 | 11th August2019 |
| August 2019 | 11th September2019 |
| September 2019 | 11th October 2019 |
Business organizations with sales of upto Rs. 1.5 crore have to file quarterly returns.
The due dates of filing GSTR 1 for the quarterly return are as follows:
| Period (Quarterly) | Due dates |
|---|---|
| July – September 2018 | 31st October 2018 |
| October – December 2018 | 31st January 2019 |
| January – March 2019 | 30th April 2019 |
| April – June 2019 | 31st July 2019 |
| July – September 2019 | 31st October 2019 |
Furnishing such details in GSTR 1 can be extended. The Commissioner or Joint secretary in board can extend the time limit by issuing a notification to ensure uniformity all over India.
Commissioner or Joint secretary in board should notify if any extension is granted by the Commissioner of State Tax or Commissioner of Union territory Tax. Thus, Commissioner of State GST or UTGST can sufficiently grant extension.
GSTR 1 once filed cannot be rectified or revised. The only option for making any mistakes in this return is to rectify it in next period of return whether month or quarter.
For instance if a mistake is made in GSTR 1 of April, the rectification for it can be made in GSTR 1 of May( monthly GSTR 1).
If the details furnished by the taxpayer are unmatched from the original details for any tax period shall be rectified in the prescribed manner, and the person shall pay tax or interest if any.
Prior penalty for late filing was Rs 200 per day of delay.
| For a normal return For late filing of GSTR 1 the assessee has to pay late fees that is Rs. 50 per day. | For nil return The late fee has been reduced from Rs 50 to Rs 20 per day | |
| For intra state supplies : | This is bifurcated as
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This is bifurcated as
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| For inter state supplies : | It is Rs 50 for ISGT for the delay made. | Not applicable |
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Note:
CGST -Central Goods and Services Tax. SGST -State Goods and Service Tax. IGST - Integrated Goods and Services Tax. |
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Notification no. 75/2018-central tax states that:
Late fee shall be waived for all taxpayers in case they fail to furnish Form GSTR 1 for the months or quarters July 2017 to September 2018, and these details are furnished between the period of 22 December 2018 to 31 March 2019.
Thus, the filing of Form GSTR-1 has not attracted any late fee penalty form small business man until 31st March 2019.
Notification no. 41/2019-central tax states that:
Late fees for GSTR 1 is waived off completely for taxpayers in various districts of the flood-affected States and all districts of J&K.
The maximum limit of late fees is still Rs 10,000 per return.
GSTR 1 is to be filed on GST portal.
To file return GSTR 1 the assessee needs to follow few steps. They are as follows:
Every businessman big or small has to file return of GST. One of such forms is GSTR 1 that is to be filed by every business man who is registered for GST. The GSTR 1 is a mandatory document to be filed either monthly or quarterly. Even the business organizations with no sales have to file the GSTR 1. This form basically includes all the transactions that are outward i.e. sales, in an organization. However, GSTR 1 can be replaced with ANX 1 since 1st october 2019. This is an option and not mandatory.
Yes, GSTR 1 is a mandatory document to be filed by every businessman who is registered with GST.
No, any rectification cannot be done once GSTR 1 is filed. But if any mistake is to be rectified it is to be specified in the GSTR 1 of next month.
For example: For example: Mr. Karan has sold goods to Mr. Yash for INR 2,00,000 on 30th June 2018 and declared it in the GSTR-1 of July 2018. He realised that he had made a mistake in the date of invoice. The amended invoice can be shown in GSTR 1 of August 2018.
If your sales are below Rs. 1.5 Crore, you can file your GSTR 1 on quarterly basis.
GSTR 1 is normally filed before GSTR 3B because
Hence, as a professional practice GSTR1 is filed before GSTR 3B. except the quarterly filing of GSTR 1 (in case turnover does not exceed Rs 1.5 cr), we can always file GSTR 1 before GSTR 3b.
Every registered dealer (having turnover above 1.5 cr) has to file GSTR 1 on or before the 11th of next month.
GSTR 1 is a detailed statement of sale transactions. The details of which will auto populate in GSTR 2 of related recipients.
If the other party makes any changes in GSTR 2 then the same will auto populate in GSTR 1A of the supplier which can be accepted or rejected.
Yes, there is a penalty for late filing of GSTR 1. The penalty amounts is 50 rupees per day in general and 20 rupees in case of nil return .
We can not revise GSTR 1 but we can rectify the details at the time of filing GSTR 1 of the next month.
In case of late filing of GSTR 1 , penalty will be leviable on the registered taxpayers.
