What is GSTR-1? Who is required to file the GSTR-1?
GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual 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/ composition taxpayer/persons liable to deduct tax u/s 51 / persons liable to collect tax u/s 52 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 condition: If your turnover during the preceding financial year was upto Rs. 1.5 Crore; or if you are registered during the current financial year and expect your aggregate turnover during FY 2017-2018 to be upto Rs. 1.5 Crores.
Is GSTR-1 filing mandatory?
GSTR-1 needs to be filed even if there is no business activity (Nil Return) in the tax period.
What are the available modes of preparing GSTR-1?
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 furnished 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 Rs. 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; and
i. HSN/SAC wise summary of outward supplies.
Which type 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 collecting TCS (Return to be filled by them in GSTR-8)
Do I need to upload the invoice(s) details at the time of filing GSTR-1?
Taxpayers can upload invoice details any time during the tax period and not just at the time of filing of GSTR-1. For example, let’s take September 2017 as the tax period - the tax payer can upload invoices from 1st September to 10th October and after 15th October in case of late filing of GSTR-1.
Until when can changes be made to the uploaded invoice details?
Taxpayers can modify/delete invoices any number of times till they submit the GSTR-1 of that particular tax period. The uploaded invoice details are in a draft version, and can be changed irrespective of due date until the GSTR-1 is submitted.
What is GSTR-1A?
GSTR-1A is an addendum to Form GSTR-1 i.e. Outward supplies statement of the supplier. It is always generated on the basis of details added/ modified/ rejected by the counterparty taxpayer (B2B Transactions) in their Form GSTR- 2/4/6. The details of these forms are then auto-populated to the supplier taxpayer on submission of their Form GSTR- 2/4/6.
Who needs to file GSTR-1A?
All normal taxpayers and casual taxpayers have to file GSTR-1A, if there are auto-populated details in their GSTR-1A.
Is it mandatory to submit GSTR-1A before generation of GSTR-3?
GSTR-1A is not mandatory to be submitted before generation of GSTR-3.