[ecis2016.org] Know all about Form GSTR 1, who is liable to file it and what are the preconditions to file this form.
What is GSTR 1?
GSTR 1 is the prescribed form for all registered taxpayers who make outward supplies of goods or services, or both. A monthly or quarterly return form, GSTR 1 has details of all the outward supplies of goods and services.
Who has to file GSTR 1?
Every registered taxpayer is obliged to file GSTR 1, barring some exceptions, mentioned in the following section.
Taxpayers who are not required to file GSTR 1
- Taxpayers under the composition scheme.
- Non-resident foreign taxpayers.
- Online information database and access retrieval service providers.
- Deductors of TDS.
- Input service distributors.
- E-commerce operators collecting TCS.
Pre-requisites for filing GSTR 1
- You should be a registered taxpayer.
- You should have an active GSTIN during the tax period for which GSTR-1 has to be filed.
- You should have valid login credentials to login into the GST portal.
- You should have an active and non-expired/revoked digital signature (DSC), in case the digital signature is mandatory.
- You should have access to the registered mobile number of the primary authorised signatory if you want to use Electronic Verification Code.
Sections in GSTR 1
2: Taxpayer’s name.
3: Aggregate turnover in the previous financial year.
5: Taxable outward supplies to a registered person.
5A: Amendments to details of outward supplies to a registered person for earlier tax periods.
6: Taxable outward supplies to a consumer where the place of supply (state code) is other than the state where the supplier is located (inter-state supplies) and the invoice value is more than Rs 2.5 lakhs.
6A: Amendment to taxable outward supplies to a consumer for earlier tax periods where the place of supply is other than the state where the supplier is located and the invoice value is more than Rs 2.5 lakhs.
7: Taxable outward supplies to consumers (other than those mentioned in Section 6 above).
7A: Amendment to taxable outward supplies to consumers for earlier tax periods (original supplies covered under Section 7 in earlier tax period).
8: Details of credit/debit notes.
8A: Amendment to details of credit/debit notes of earlier tax periods
9: Nil-rated, exempted and non-GST outward supplies.
10: Supplies exported (including deemed exports).
10A: Amendment to supplies exported (including deemed exports).
11: Tax liability arising on account of the time of supply without the issuance of invoice in the same period.
11A: Amendment to tax liability arising on account of the time of supply without the issuance of invoice during the same tax period.
12: Tax already paid (on advance receipt/on account of the time of supply) on invoices issued in the current period.
13: Supplies made through e-commerce portals of other companies.
14: Invoices issued during the tax period, including those issued for inward supplies received from unregistered persons that are liable for reverse charge.
GSTR 1 sample
Click here to view a template of Form GSTR 1.
Details to be furnished in GSTR 1
- Invoice details of supplies to registered persons including those having UIN.
- Invoice details of inter-state supplies, where invoice value is more than Rs 2.50 lakhs to unregistered persons.
- Details of debit or credit notes issued by the supplier against invoices.
- Details of exported goods and services, including deemed exports.
- State-level details of supplies to consumers.
- Details of advances received concerning future supply and their adjustment.
- Details of any amendments to reported information for anuy of the above categories.
- Nil-rated, exempted and non-GST supplies.
- HSN/SAC-wise summary of outward supplies.
Due date for filing GSTR 1
The due date for filing GSTR 1 is the 11th day of the succeeding month in case of monthly filing. In the case of quarterly filing, the due date is the 13th day of the month succeeding the end of every quarter. For example, GSTR 1 for January 2022 needs to be filed by February 11, 2022. GSTR 1 for the January-March quarter of 2022, on the other hand, needs to be filed by April 13, 2022.
Note that taxpayers with sales of up to Rs 5 crores have the option to file quarterly returns while taxpayers with a total turnover above Rs 5 crores have to file returns monthly.
When can you opt for the quarterly filing of the GSTR 1 return?
You can opt for quarterly filing of GSTR 1 under the following circumstances:
- If your turnover was up to Rs 1.5 crores, during the preceding financial year.
- If you are registered during the current financial year and expect your aggregate turnover to be up to Rs 1.5 crores.
Can you opt for monthly filing after opting for the quarterly filing of the GSTR 1 return?
A facility to change frequency is available, if you have not filed any returns during the financial year.
Is filing GSTR 1 mandatory if there has been no return during a particular tax period?
Yes, those obliged to file GSTR 1 have to file it, even if there is no return during a period. The failure to do so will attract the following penalty:
|Applicable law||Daily late fee (Rs)||Upper limit of late fee (Rs)|
|CGST Act, 2017||10||250|
|SGST Act, 2017||10||250|
|Total late fee||20||500|
GSTR 1 late filing penalty
GSTR 1 late filing fees in other cases are as follows:
|Applicable law||Daily late fee (Rs)||Upper limit of late fee in case your annual turnover in the previous FY is up to Rs 1.5 crores||Upper limit of late fee in case your annual turnover in the previous FY is between Rs 1.5 crores and Rs 5 crores||Upper limit of late fee in case your annual turnover in the previous FY is more than Rs 5 crores|
|CGST Act, 2017||25||1,000||2,500||5,000|
|SGST Act, 2017||25||1,000||2,500||5,000|
|Total late fee||50||2,000||5,000||10,000|
How to rectify a mistake in GSTR 1?
A mistake made in GSTR 1 return can be rectified when the form is filled for the next month or quarter. This means that for a mistake made in, say, GSTR 1 of March 2022, you can make rectification in April 2022 or subsequent months.
Does a taxpayer need to electronically sign GSTR 1 after successful submission?
Yes, a taxpayer needs to electronically sign GSTR 1 after successful submission. Otherwise, GSTR 1 will be considered as not filed.
What happens after the successful filing of GSTR 1?
You receive an application reference number on the successful filing of GSTR 1. An SMS and email are also sent to your registered mobile number and email ID.
What if I do not file GSTR 1 by the due date?
You will receive a system-generated return defaulter notice in format 3A, if you fail to file Form GSTR 1 by the due date. You will also have to pay a penalty for the same.
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