GST is an indirect tax that replaced various other taxes like excise duty, service tax, VAT, etc. on 1st July 2017, in India. GST is a destination-based tax levied on the value of goods and services. It has been implemented to bring in a uniform tax system throughout India and to eliminate the cascading effects of multiple taxes.
GSTR-1 is a monthly or quarterly return that should be filed by every registered taxpayer under the GST regime. It is the return that captures the details of all outward supplies of goods and services made by the taxpayer during a specified period. GSTR-1 contains details like invoice-wise details of sales, credit notes, and debit notes issued during the month or quarter.
Every registered person under GST, except Input Service Distributors and Composition taxpayers, needs to file GSTR-1. In other words, all taxpayers who have made outward supplies of goods or services during the specified period should file GSTR-1.
GSTR-1 is an eight-part return form. The details of each part are as follows:
Every registered person under the GST regime who has made outward supplies of goods or services during the specified period should file GSTR-1. The due date for GSTR-1 filing depends on the turnover of the taxpayer. If the taxpayer's annual turnover is up to Rs. 1.5 crores, then he is eligible to file GSTR-1 quarterly. If the turnover is more than Rs. 1.5 crores, then the taxpayer must file GSTR-1 on a monthly basis.
Some of the important rules of GSTR-1 filing are:
If a taxpayer does not file GSTR-1 within the due date, then he is liable to pay a late fee of Rs. 50 per day (CGST and SGST) and Rs. 100 per day (IGST) from the due date till the date of filing the return. Besides, the taxpayer cannot claim the input tax credit for the invoices that are not uploaded by his suppliers in their GSTR-1.
Yes, you can file GSTR-1 after the due date by paying the late fee as mentioned above.
The penalty for late filing of GSTR-1 is Rs. 50 per day (CGST and SGST) and Rs. 100 per day (IGST) from the due date till the date of filing the return.
No, GSTR-1 once filed cannot be revised. Any mistake made in GSTR-1 can be corrected in the next month's/quarter's GSTR-1.
No, you cannot file GSTR-1 manually. GSTR-1 can be filed either online or offline through an excel utility or a JSON file.
The due date for GSTR-1 filing depends on the turnover of the taxpayer. If the taxpayer's annual turnover is up to Rs. 1.5 crores, he must file GSTR-1 quarterly by the 10th of the succeeding month/quarter. If the turnover is more than Rs. 1.5 crores, then he must file GSTR-1 on a monthly basis by the 10th of the succeeding month.
No, you cannot file GSTR-1 without filing GSTR-3B because GSTR-3B is a summary return that contains the details of the tax paid during the tax period.
GSTR-1 is a return that captures the details of all outward supplies of goods and services made by the taxpayer during a specified period. GSTR-3B is a summary return that contains the details of the tax paid during the tax period. GSTR-1 is used to reconcile the data uploaded by the suppliers with the data uploaded by the recipient in GSTR-2, whereas GSTR-3B is used to pay the tax liability for the tax period.
GSTR-1 is a critical return that captures the details of all outward supplies of goods and services made by the taxpayer during a specified period. Every registered person under GST, except Input Service Distributors and Composition taxpayers, needs to file GSTR-1. GSTR-1 must be filed on or before the 10th of the succeeding month/quarter. Non-filing or late filing of GSTR-1 attracts a late fee and other penalties. Therefore, it is essential to file GSTR-1 on time and ensure that the details are accurate and complete.
GST on E-commerce Explained with Restaurant Example
The GST Toll-Free Number in 12 Languages for Taxpayers
GST Implication on Goods Transport by Road (GTA)
