GSTR 1 is a monthly return of GST outward supplies. Essentially it is a GST return showing all the sales transactions of a business.
Say for e.g. If a person’s business has entered into a transaction of supply of goods, then there must be someone who would be the recipient of the supply of goods. Supplier of the goods would be the originating point of the sale transaction and he would specify, in his GST return, details of supply along with the recipient to whom supply has been affected. The return for the inward supplies of the recipient of the supply would get auto-populated with the details provided by the supplier in his gst return for the outward supplies. Thus, GSTR1 becomes the base document upon which the entire compliance structure in GST would be based.
The GSTR1 form is a GST return form for the regular taxpayers who have to file details of outward supplies on every 10th if next month for those who cross the turnover more than 1.5 crore annually. The business taxpayers who are under the threshold limit to 1.5 crore will have to file quarterly starting from July to September. Following persons need not to file GSTR1:
Input service distributor.
Non-resident taxable persons.
Tax deducted at source.
Tax collector at source.
Invoice-wise details of inter-state and intra-state supplies made to registered persons and inter-state supplies with invoice value more than 2.5 lakh made to unregistered persons.
Consolidated details of intra-state supplies made to unregistered persons for each rate of tax and state wise inter-state supplies with invoice value up to 2.5 lakh made to unregistered persons for each rate of tax.
Debit and credit notes, if any, issued during the month for invoices issued previously.
GSTIN of taxpayers.
Name of the taxable persons.
Aggregate turnover in preceding year.
Taxable outward supplies made to registered persons other than zero rated supplies and deemed exports.
Taxable outward inter-state supplies to unregistered where the invoice value is more than Rs. 2.5 lakh.
Details of zero-rated supplies and deemed exports.
Details of taxable supplies to unregistered other then supplies covered in table5.
Details nil rated, exempted and non-GST outward supplies.
Details of debit note, credit note, refund vouchers issued during the current period and any amendments to taxable outward supply details furnished in GSTR1 for earlier tax period in table4,5&6.
Details of debit note and credit note issued to unregistered persons.
Details of advance received/advance adjusted in the current tax period or amendments of information furnished in earlier tax period.
HSN-Code wise summary of outward supplies.
Legal Documents issued during the tax period.
Search for services and then click on GST returns, followed by the returns dashboard.
In the dashboard the dealer has to enter the financial year and the month for which the return needs to be filed. Click on search after that.
All returns relating to this period will be displayed on the screen in a tiled manner.
Dealer has to select the tile containing GSTR1.
After this he will have the option either to prepare online or to upload the return.
The dealer will now add invoices or upload all invoices directly.
Once the entire form is filled up, the dealer shall then click on submit and validate the data filled up.
With the data validated, dealers will now click on file, GSTR1 and proceed to either E-sign or digitally sign the form.
Another confirmation pop-up will be displayed on the screen with a yes or no option to file the return.
Once yes is selected, an acknowledgment reference number (ARN) is generated.
Click on B2B column.
After clicking on B2B column, click on back button without entering any invoice.
Do same procedure with all column like B2C, export and all expect on 10th column ‘nil rated supplies`.
On the 10th column, click on save and then back.
After that submit and file return with DSC or EVC option.
Export invoices amendments
Credit/Debit notes (registered) amendments
Credit/Debit notes (unregistered) amendments
B2C other amendments
Advance received (tax liability) amendments
Adjustment of advances amendments
Return once filed cannot be revised. Any mistake made in the return can be rectified in the next period return. It means that if a mistake is made in September GSTR1, rectification for the same can be made in October’s GSTR1.