GSTR-1:- GST has been in India for a long period now and all taxpayers will have to file their GST by taking into consideration various forms presented by the organization of the Indian tax department. You must have proper information related to the GSTR1, GSTR-2, and GSTR-3 application forms available from the Indian government before successfully undertaking a business. Given below we are sharing some of the most important specifications related to GSTR-1 including the specifications of the Return Filing Format, Last Date, & New Rules.
Table of Contents
GSTR1 is the certificate that will have most of the information related to the outward supplies that are provided by the taxpayer and outward supplies made to the buyer for a relevant period. You will have to file the GSTR1 application form for all of the operations that your business is going through. You will have to file this return on the 11th of the subsequent month so if you are filing the GSTR1 for the transaction that happened in the month of April then you will have to submit the application form in the month of May on the tenth day of the month. This is the most important filing that you will have to do and a new format is presented by the Indian government for this certificate.
Last Date For GSTR-1
There is a proper deadline that you will have to follow in order to file your GSTR1 certificate and given below we are sharing the due dates:-
- GSTR-1 Due Date When Turnover Is Upto ₹1.5 crores
|Months(Quarterly)||GSTR-1 Due Date|
|October 2020 to December 2020||13th January 2022|
|January 2022 to March 2022||13th April 2022|
|April 2022 to June 2022||13th July 2022|
- GSTR-1 Due Date When Turnover Exceeds ₹1.5 crores
|Period (Monthly)||GSTR-1 Due Dates|
|April 2022||11th May 2022|
|March 2022||11th April 2022|
|February 2022||11th March 2022|
|January 2022||11th February 2022|
|December 2020||11th January 2022|
|November 2020||11th December 2020|
|October 2020||11th November 2020|
|September 2020||11th October 2020|
|August 2020||11th September 2020|
|July 2020||11th August 2020|
Return Filing Format of GSTR-1
GSTR 1 has a total of 13 headings, the taxable person need not worry as most of these will be pre-filled. Given below, we are sharing the Return Filing Format of GSTR-1:-
|Table 1,2 and 3||GSTIN (Goods and Services Taxpayer Identification Number) and aggregate turnover in the preceding year|
|Table 4||Taxable outward supplies made to registered persons (including UIN-holders) other than Zero-rated supplies and Deemed Exports.|
|Table 5||Taxable outward inter-State supplies to un-registered persons where the invoice value is more than INR 2.5 Lakh.|
|Table 6||Details of Zero-rated supplies and Deemed Exports. Like POS (Place of Supply of Goods and Services)|
|Table 7||Details of Taxable supplies (Net of debit notes and credit notes) to unregistered persons other than the supplies covered in Table 5.|
|Table 8||Details of Nil rated, exempted, and non-GST outward supplies.|
|Table 9||Details of debit notes, credit notes, refund vouchers issued during the current period, and any amendments to taxable outward supply details furnished in the GSTR1 returns for earlier tax periods in Tables 4, 5 & 6.|
|Table 10||Details of debit notes and credit notes issued to unregistered persons.|
|Table 11||Details of Advances Received/Advance adjusted in the current tax period or Amendments of information furnished in the earlier tax period.|
|Table 12||HSN -wise summary of outward supplies.|
|Table 13||Documents issued during the tax period.|
Eligibility Criteria For GSTR-1
Every GST registered person has to file GSTR-1. But there are some exceptions to this rule given below:-
- Input Service Distributor. They will have to file GSTR 6.
- Non-Resident Taxable Person. They will be filing GSTR 5.
- Composition Scheme Taxpayer under section 10. The person opting for Composition Scheme has to file a return in GSTR 4.
- Tax Deductor at source under Section 51. They have to file a return under GSTR 7.
- A tax collector at Source under Section 52. They have to file a return in GSTR 8.
Late Fees And Penalty
The people will have to pay a certain amount of late fees and penalties if they are not filing the GSTR1 certificate and given below we are sharing the specification of the late fee:-
- The late fee is an amount charged by the Government for delay in filing a GST return. Government charges the late fee for each day of delay when a taxpayer misses filing a GST return.
- GSTR-1 Late filing fees for not filing GSTR-1 is ₹200 per day. The Government charges the late fee for GSTR-1 from the date after the due date till the date of filing.
- The Government has brought relief to the taxpayers by reducing the GSTR-1 late fees because of the current pandemic situation.
- As of now, after the notification given by the Government up to February 2021, the government continues to charge at a reduced rate of Rs.50 per day of delay from Rs.200 per day of delay and Rs.20 in case of nil return.
How To File GSTR-1 Online?
There is a very easy procedure through which you will be able to fill the GSTR-1 online application form and given below we are specifying the procedure:-
- You will first have to login into the GST portal with your credentials.
- The dashboard will be displayed on your screen.
- You have to click on the option called “Returns Dashboard”.
- You need to select the financial year and the month for which the return you want to file
- Now, click on the GSTR-1 option to prepare it online
- You will now have to enter all of the details and add the details in all of the respective columns.
- Click on generate summary option and wait for the summary to generate
- Next, check the data once again and then click on submit button
- After submission of data, click on the option file return.
- Select the name of the person authorized to file the return
- Then click on the file with the EVC option ( after verifying the OTP sent to the registered mobile number you can file the return)
- By clicking on the file with the EVC option, the below screen will appear, enter the OTP received on the registered mobile number and click on verify. Now your return is successfully filed.
FAQs For GSTR-1
You can correct your mistake or delete any detail in the invoice during the same tax period in which the mistake took place.
You will first have to log in to the GST portal and click on the form. Now, you will have to click on the option called amend and amend the invoice with a debit note and a credit note.
All of the people will have to file for the certificate even if there are no business activities in the preceding month.
From 1st January 2022, taxpayers cannot file GSTR-1 if the previous period’s GSTR-3B was not filed.